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Assessee entitled to depreciation on vehicle purchased but not registered in his name
Case Law Details
- Case Name
- Income Tax Officer Vs M/s. Ratan Silk Mills (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 23/05/2012
- Courts
- ITAT Mumbai
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Mere fact, being the vehicle not standing in the name of the assessee, cannot be a reason for making or sustaining any disallowance on the account of motor car expenses. So long as the expenses are incurred on the motor vehicles for the purpose of business, the same have to be allowed as deduction. The Hon’ble Jurisdictional High Court in the case of CIT vs. Mirza Ataullaha Baig and other (1993) 202 ITR 291 (BOM) has held the assessee to be entitled to depreciation on vehicle purchased which was not registered in the assesses’s name. In the light of this judgment and s...
