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In the result, appeal of assessee is partly allowed and appeal of Revenue is dismissed
Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.177/Pun/2014 यििाारण वषा / Assessment Year : 2009-10 Associated Dairy Fab Pvt. Ltd., B-5/1, Midc Area, Ajantha Road, अऩीऱाथी/Appellant Jalgaon – 425003 …. Pan: Aaeca3963F Vs. The Jt. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Range – 2, Jalgaon
9. We have heard the rival contentions and perused the record. The assessee for the year under consideration had claimed depreciation on vehicles which were registered in the name of one of its Directors. The cost of the said vehicles were admittedly borne by the assessee company out of its own funds and the said vehicles were reflected as assets