Home Highlights July 2016 Year 2016 This

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1. Disallowance of depreciation claimed on Automated Teller Machines (ATM) - @ 15% OR 60% - the test would be: Does an ATM fulfil the functions of a Computer in the...

2. Additional depreciation - whether embroidery work earned on embroidery machines is manufacturing activity or not - installation of embroidery machines - additional...

3. Depreciation on ATMs - to be treated as computers or plant and machineries - @15% or 40% - AO directed to allow higher depreciation of 40% as claimed by the assessee on...

4. Central Government, specifies Cash Replenishment Agencies (CRA’s) and franchise agents of White Label Automated Teller Machine Operators (WLATMO’s) after consultation...

5. Rate of depreciation on UPS - UPS also can be considered as a computer if it is connected to the ATM Machine or a Computer and depreciation thereon is allowable at 60%....

6. Allowance of additional depreciation - assets purchased after 01/10/2010 - the assessee only claimed 10% of the additional depreciation in the assessment year 2011-12....

7. Disallowance of additional depreciation - the fact remains as per this proviso the assessee is only required to acquire and install the machines, which in this case has...

8. Depreciation on ATM - whether ATMs are computers and are eligible for 60% depreciation? - Yes - ATMs are computers and are entitled to higher rate of depreciation.

9. Disallowance of additional depreciation - AO is directed to allow the balance 50% depreciation namely 10% of additional depreciation during the year under consideration - AT

10. Claim of depreciation @ 60% on racks, Xerox machine - AO/TPO directed to verify the actual use and nature of Xerox machines and the accessories that has been considered...

11. Depreciation on ATMs - ATM cannot be considered as computers, or parts thereof. - ATM's cannot be granted depreciation at the rates applicable to computers.... - AT

12. Additional depreciation on the plant and machinery - 50% of the additional depreciation was only claimed during the first year - the assessee is entitled for additional...

13. Additional depreciation u/s 32(1)(iia) - asset put to use for less than 180 days - remaining 50% of allowable additional depreciation in the subsequent assessment year -...

14. Additional depreciation on the machinery installed at various collection centers - business of pathological testing diagnostic laboratories - the collection centers are...

15. Additional Depreciation on the wind mill - period of trial run - to deny the benefit of additional depreciation to generating entity on the basis of electricity is not...