The Reader

From: rajivjoshica@eth.net <rajivjoshica@eth.net>
Subject: Re: [aurangabad_ca] Disallowance of Depreciation.
To: aurangabad_ca@yahoogroups.com
Cc: dharampaca@yahoo.com, "R.H.MALPANI CO." <rhmalpani@rediffmail.com>
Date: Tuesday, 12 January, 2010, 10:26 AM

 

Pl inform the entry passed in the Books for the cars cost.

CA R B JOSHI

----- Original Message -----
From: "R.H.MALPANI CO." <rhmalpani@rediffmai l.com>
Date: Tuesday, January 12, 2010 8:10 am
Subject: Re: [aurangabad_ ca] Disallowance of Depreciation.
To: dharampaca@yahoo. com
Cc: aurangabad_ca@ yahoogroups. com

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> On Sat, 09 Jan 2010 19:03:05 +0530 wrote
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> Dear All,
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> Assessing officer has disallowed depreciation claim on Motor car.
> CAR was gifted by the wife to her husband out of her salary
> income. AO has pointing out the clubbing section that the Car was
> transferred without any consideration.
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> We have pointed out that clubbing section is applicable only if
> the income if any, generated out of gifted CAR. AO has argued that
> Car was gifted as the Wife cannot take the benefit of depreciation
> due to Salary income. Hence, Husband is getting indirect benefit
> of Income through claiming of depreciation.
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> Any Views and any case laws.
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> Thanks
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