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Case Law Details

Case Name : Niho Construction Limited Vs DCIT (ITAT Delhi)
Appeal Number : ITA No.3063/Del./2011
Date of Judgement/Order : 31/05/2012
Related Assessment Year : 2007-08
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Niho Construction Limited Vs DCIT (ITAT Delhi)

Assessee claimed 100% Depreciation on Mobile Phones, each of which cost less than Rs. 5,000/-. But Assessing Officer (AO) restricted the depreciation to 15%, treating them general plant & Machinery. Assessee approached ITAT and AO argued that List of items on which 100% depreciation is allowed is specifically provide in Income Tax Act and Mobile Phones are not mentioned in it ITAT accepted the argument and restricted Depreciation to 15%.

Depreciation write on a book isolated on office desk

FULL TEXT OF THE ORDER OF ITAT DELHI

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Abhishek Raja Ram - Popularly known as "Revolutionary Raja" is FCA, DISA, Certificate Courses on – Valuation, Indirect Taxes , GST etc, M. Com (F&T) Mr. Abhishek Raja “Ram” is a Fellow member of ICAI, qualified in 2006, and holds Master’s-Degree in Commerce. He has more than a 15 ye View Full Profile

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