Depreciation Claims Valid Under Hire Purchase; Ownership Not Required in Assessee's Name for Eligibility.

Depreciation Claims Valid Under Hire Purchase; Ownership Not Required in Assessee's Name for Eligibility. https://www.taxtmi.com/highlights?id=69094 Depreciation - mandation of ownership of such machines in name of the assessee - a hire purchase agreement is one where the hirer has an option to purchase the goods in accordance with terms of the agreement and the property in the goods pass on to such person on the payment of the last installment. Thus the allegation of the revenue is on a totally wrong appreciation of facts. - AT en-us Thu, 06 Apr 2023 17:56:55 +0530 Thu, 06 Apr 2023 17:56:55 +0530 TaxTMI RSS Generator Depreciation Claims Valid Under Hire Purchase; Ownership Not Required in Assessee's Name for Eligibility. https://www.taxtmi.com/highlights?id=69094 Depreciation - mandation of ownership of such machines in name of the assessee - a hire purchase agreement is one where the hirer has an option to purchase the goods in accordance with terms of the agreement and the property in the goods pass on to such person on the payment of the last installment. Thus the allegation of the revenue is on a totally wrong appreciation of facts. - AT Highlights Income Tax Thu, 06 Apr 2023 17:56:55 +0530 https://www.taxtmi.com/highlights?id=69094