{"id":13975,"date":"2020-11-23T12:33:10","date_gmt":"2020-11-23T12:33:10","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pik-studios-p-ltd-v-dy-cit-202079-itr-533-mum-trib\/"},"modified":"2020-11-23T12:33:10","modified_gmt":"2020-11-23T12:33:10","slug":"pik-studios-p-ltd-v-dy-cit-202079-itr-533-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pik-studios-p-ltd-v-dy-cit-202079-itr-533-mum-trib\/","title":{"rendered":"PIK Studios P. Ltd. v Dy. CIT (2020)79 ITR 533 (Mum) (Trib)"},"content":{"rendered":"<p>Tribunal held that where the firm is succeeded by a company falling under section\u00a047(xiii)\u00a0, the Act mandates that the aggregate deduction in respect of the asset shall not exceed in any previous year, the deduction calculated at the prescribed rates as if the succession had not taken place and such deduction shall be apportioned between the predecessor and the successor in the ratio of the number of days for which the assets were used by them.<\/p>\n<p>Tribunal also held that the rate and amount of depreciation which was applicable for the predecessor would be the amount of depreciation allowable on the item. \u00a0( AY.1999-2000 to 2006-07, 2008-09 to 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 32 : Depreciation \u2013 Actual cost -Trade Mark \u2014 Revaluation \u2014 Depreciation to  be claimed on cost incurred and not on  revaluation figure \u2014Total amount of  depreciation cannot exceed depreciation to which assessee would be entitled if  succession had not taken place  [ S.43(1), Explanation 3, 47(xiii)  ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13975","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Dp","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=13975"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13975\/revisions"}],"predecessor-version":[{"id":13976,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13975\/revisions\/13976"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}