Case law related to director
This query is : Resolved
07 November 2014
situation-
a director purchased a car in his personal name and now intends to use it for company's purpose wholly. therefore, the company now wants to treat the car as its capital asset and claim depreciation, expenses and interest on car loan.
requirement-
can someone please suggest some relevant case law or judgement by a competent court or authority to validate the above mentioned actions.
thanks in advance.
a director purchased a car in his personal name and now intends to use it for company's purpose wholly. therefore, the company now wants to treat the car as its capital asset and claim depreciation, expenses and interest on car loan.
requirement-
can someone please suggest some relevant case law or judgement by a competent court or authority to validate the above mentioned actions.
thanks in advance.
07 November 2014
Let company outright BUY it. No case law needed.
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