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2012 (6) TMI 712 - HC - Income TaxDis-allowance of Sundry Creditors - addition made u/s 68 on surmise of it being bogus - Held that:- Tribunal after examining the mode and manner of payment, TDS certificates, vouchers produced etc., had reached the finding that assessee had discharged the burden upon them and the addition under Section 68 was not justified. No infirmity found in the order. Prior period expenses - dis-allowance on ground that though expenses are recorded in relevant year - AY 03-04, however vouchers are dated 31.03.02 - Held that:- Since liability has crystallized in relevant year and cannot be called as relating to earlier year hence the same is an allowable expenditure. Depreciation to be provided at 60% and not 15% on computer peripherals. Depreciation on emergency spare parts - dis allowance on ground that emergency spares had not been used - Held that:- Emergency spares are entitled to depreciation in terms of the decision in Capital Bus Services (P) Ltd. v. CIT (1980 (2) TMI 69 (HC)). Tribunal rightly held that depreciation was allowable to the assessee on the principle of passive user - Decided in favor of assessee.
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