Capital cost cap on motor cars limits recognised purchase cost for depreciation to a statutory ceiling for post cutoff acquisitions. An inserted proviso to section 43 provides that where the actual cost of a motor car acquired after the 28th day of February, 1966, exceeds twenty five thousand rupees, the excess shall be ignored and the actual cost shall be taken to be twenty five thousand rupees.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Capital cost cap on motor cars limits recognised purchase cost for depreciation to a statutory ceiling for post cutoff acquisitions.
An inserted proviso to section 43 provides that where the actual cost of a motor car acquired after the 28th day of February, 1966, exceeds twenty five thousand rupees, the excess shall be ignored and the actual cost shall be taken to be twenty five thousand rupees.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.