{"id":2635,"date":"2018-10-22T06:31:48","date_gmt":"2018-10-22T06:31:48","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-shriram-chits-investments-p-ltd-2018-257-taxman-395-mad-hc\/"},"modified":"2019-01-28T09:35:55","modified_gmt":"2019-01-28T09:35:55","slug":"cit-v-shriram-chits-investments-p-ltd-2018-257-taxman-395-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-shriram-chits-investments-p-ltd-2018-257-taxman-395-mad-hc\/","title":{"rendered":"CIT v. Shriram Chits &#038; Investments (P.) Ltd. (2018) 257 Taxman 395\/(2019) 410 ITR 10 (Mad.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that ;\u00a0when the assessee is in the business of leasing as long as asset is utilized for purpose of business , the depreciation is allowable .Followed\u00a0 I.C.D.S Ltd v. CIT ( 2013) 350 ITR 527 (SC)(AY. 1997-98)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 32 : Depreciation \u2013Leasing of vehicles- Asset utilized  for the purposes of business- Entitle to  depreciation<\/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":[1],"tags":[],"class_list":["post-2635","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Gv","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2635","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=2635"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2635\/revisions"}],"predecessor-version":[{"id":3771,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2635\/revisions\/3771"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}