Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Disallowance of depreciation on new Honda City car - The Tribunal observed that the appellant had purchased the vehicle and got it insured on 30.09.2009, which was treated as being "put to use." It emphasized that the degree of utilization of assets should not be considered while determining whether the asset is put to use. The Tribunal referred to relevant CBDT notifications and concluded that the appellant was entitled to claim depreciation on the vehicle.
Disallowance of depreciation on new Honda City car - The Tribunal observed that the appellant had purchased the vehicle and got it insured on 30.09.2009, which was treated as being "put to use." It emphasized that the degree of utilization of assets should not be considered while determining whether the asset is put to use. The Tribunal referred to relevant CBDT notifications and concluded that the appellant was entitled to claim depreciation on the vehicle.
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