We've upgraded AI Search on TaxTMI with two powerful modes:
1. Basic • Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI
2. Advanced • Includes everything in Basic • Detailed report covering: - Overview Summary - Governing Provisions [Acts, Notifications, Circulars] - Relevant Case Laws - Tariff / Classification / HSN - Expert views from TaxTMI - Practical Guidance with immediate steps and dispute strategy
• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:
Tonnage tax assets: allocation of written down value, separate depreciation blocks, and capital gains computation. On first tax year the existing block's written down value is apportioned between qualifying assets and other assets by reference to their book written down values at the end of the preceding tax year, creating separate blocks for depreciation; movements between blocks cause apportioned transfers of written down value by formula and depreciation for assets changing use is allocated by days of use; capital gains on disposals of qualifying assets are chargeable and computed under the capital gains provisions with section 74 applied to the block of qualifying assets.
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.
<h1>Tonnage tax assets: allocation of written down value, separate depreciation blocks, and capital gains computation.</h1> On first tax year the existing block's written down value is apportioned between qualifying assets and other assets by reference to their book written down values at the end of the preceding tax year, creating separate blocks for depreciation; movements between blocks cause apportioned transfers of written down value by formula and depreciation for assets changing use is allocated by days of use; capital gains on disposals of qualifying assets are chargeable and computed under the capital gains provisions with section 74 applied to the block of qualifying assets.
TaxTMI 
• Category-wise results to explore all relevant documents on TaxTMI
Help Us Improve - by giving the rating with each AI Result:
TaxTMI 
TaxTMI 
