Home Highlights January 2014 Year 2014 This

You may also like:

1. Depreciation on the loss incurred units of CANSTAR or revenue expenditure - The assessee would be entitled to the claim as expenditure incurred in the business - HC

2. Depreciation on apple ipad - at the general rate of 15% OR 60% - whether the iPad falls in the definition of computer or mobile phone? - in case the assessee wishes to...

3. Nature of expenditure - Disallowance of expenditure under the "head repairs and maintenance"- AO rejected the assessee's contention and held that the assessee is...

4. Claim of higher depreciation of ‘Bizerba weighing scales’ - A photocopy (xerox) machine can also be attached to a computer, however, that does not entitle it for...

5. Depreciation on mobile phones - @15% OR 60% - There are smart phones which do function equivalent to the computers or much more than a computer, if the functionality of...

6. Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

7. Mobile phone battery is a part or component of the mobile handset because without a battery, the mobile handset cannot function. Such being the position, the...

8. Assessee is entitled to claim depreciation @ 60% on expenditure incurred in the development of computer software being capital in nature - AT

9. Depreciation on foreign exchange fluctuation loss - foreign currency term loan availed for purchase of windmill - since the assessee has capitalized and claimed...

10. Claim of Expenditure on hawala business - Assessee also did not submit any proof of incurring any expenditure. Income was also not assessed on net basis @ 0.30 %. No...

11. TDS u/s 195 - non deduction of TDS on software embedded in mobile phones imported by the assessee during the previous year - Finished mobile phones were imported by the...

12. Mobile Battery Chargers (MBC), cannot be treated as part of the Mobile Phones itself and they are mere accessories of the Mobile Phone and are to be taxed separately...

13. Nature of expenditure - assessee itself has capitalized in the financial statements to the expenditure incurred but the assessee has claimed it as a revenue expenditure...

14. Classification of imported goods - earphones with microphones - the earphone will qualify as an accessory which can be used with cellular mobile phone as well as other...

15. Nature of expenditure - Expenditure incurred by the assessee towards repairs and renovation of the premises to house the branch - if the expenditure incurred by the...