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ITAT not allows 100% depreciation on mobile valued less than ₹ 5000
Case Law Details
- Case Name
- Niho Construction Limited Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2007-08
- Courts
- All ITAT, ITAT Delhi
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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%.
FULL TEXT OF THE ORDER OF ITAT DELHI
This appeal filed by the assessee emanates from the...
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