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ITAT Allows depreciation on car despite registration in Directors name
Case Law Details
- Case Name
- Mukesh Trends Lifestyle Limited Vs DCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Ahmedabad
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Mukesh Trends Lifestyle Limited Vs DCIT (ITAT Ahmedabad)
In the case of Mukesh Trends Lifestyle Limited Vs DCIT (ITAT Ahmedabad), a significant dispute unfolded over the eligibility of depreciation on a car utilized for business purposes, registered under the name of the company director. The intricacies of ownership, usage, and legal interpretations came to the forefront in this case, highlighting the complexities inherent in tax assessments and the importance of clear delineation between personal and business assets.
Background:
The crux of the matter revolves around the dep...
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