Registration in Partner’s Name Doesn’t Preclude Partnership Firm from Claiming Vehicle Depreciation

Vinod Textiles Vs ACIT (ITAT Ahmedabad)

Introduction: The case of Vinod Textiles vs ACIT (ITAT Ahmedabad) centers on the claim of depreciation for a motor vehicle registered in a partner’s name within a partnership firm. The Income Tax Appellate Tribunal (ITAT) Ahmedabad evaluates whether a partnership firm can avail of depreciation on a motor vehicle that is purchased and registered in the name of one of its partners.

Analysis: In this case, Vinod T

Please become a Premium member. If you are already a Premium member, login here to access the full content.