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2016 (1) TMI 1127 - AT - Income TaxClaim of depreciation on electrical equipments - Held that:- We have heard both the parties and carefully perused the materials available on record. We find merit in the contention of the Ld. A.R. Control panel board and Transformers are more or less items either falling in the category of “Instrumentation and monitoring systems” as stated in the depreciation schedule in New Appendix-IIII-( 8)(ix)B of Income Tax Rules or “Electrical equipment” as stated in the New Appendix-I-III-(8)(ix)E under the head Electrical Equipments taking into account of the principles of EJUSDEM GENERIS. Therefore we hereby direct the Ld. Assessing Officer to grant depreciation @ 80% to the assessee on these above stated items. Claim of depreciation on computers and computer peripherals - Held that:- Only computer peripherals can be at the most considered as computers for the purpose of claiming depreciation at the rate prescribed in New Appendix-III(5) of the Income Tax Rules. All other items fall in the category mentioned in New Appendix-III(1) of the Income Tax Rules as held by the Ld. CIT (A). Therefore, we do not find any reason to interfere with the order of the Ld. CIT (A) on this issue who has elaborately considered this matter in his order.
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