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2016 (12) TMI 1799 - ITAT DELHIDisallowance of claim loss due to fall in value of investments, held as stock in trade - HELD THAT:- As decided in own case disallowance [2015 (11) TMI 861 - ITAT DELHI] we decide this issue in favour of the assessee by deleting the additions. Disallowance u/s. 14A - HELD THAT:- Sufficient funds are available to make the investments and the appellant's submission that the investments were made out of interest free funds available, therefore, AO is required to indicate cogent reason on the basis of the accounts that the claim of the appellant is not correct. In the absence of any finding on the basis of accounts that interest expenditures are incurred in relation to exempt income and considering the fact that sufficient interest free funds are available, therefore, no disallowance of indirect interest expenditure can be made under Rule 8D(2)(ii). Disallowance of software expenses and AMC expenses - HELD THAT:- AMC expenses mentioned are to be treated as revenue expenditure and the remaining expenses are capital in nature. AO is directed to recompute the depreciation allowable on the above items of capital expenditure on acquisition of software. Assessee claimed depreciation @ 60% on LAN, WAN as applicable to the block of computers - It is not in dispute that the ITAT in the case of assessee itself for A.Y. 2006-07 has considered the LAN and WAN as integral part of computer and eligible for higher depreciation @ 60%. Addition of interest on overdue deposits - HELD THAT:- Claim of assessee, in our opinion, is not acceptable until it is ascertained that the actual payment of the provision has been made to the customers or not. We, therefore, restore this issue to the file of AO for the limited purpose to verify whether actual payment of the provision has been made to the customers or not and to decide the same accordingly as per law. Needless to say, the assessee shall be given reasonable opportunity of being heard.
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