[aaykarbhavan] No denial of depreciation when purchase bill wasn't in name of assessee if payment was made via cheque

No denial of depreciation when purchase bill wasn't in name of assessee if payment was made via cheque

January 3, 2015[2014] 52 taxmann.com 445 (Delhi - Trib.)

IT : Assessee was held not required to deduct tax at source while paying commission to its Managing Director as part of its salary which was duly reflected in his taxable income

IT : Disallowance in respect of interest paid by assessee on loan taken from specified persons was restricted to 16 per cent

IT : Where assessee purchased assets through cheques, its claim for depreciation could not be rejected on ground that bills for purchase of assets did not mention assessee's name

IT : Where assessee capitalised expenditure incurred on installation of plant during relevant year, its claim for additional depreciation on same could not be rejected

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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