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2013 (12) TMI 953 - AT - Income TaxDepreciation on fixed assets - Held that:- The major portion of the depreciation has been disallowed because the assessee did not present adequate proof regarding the additions to the fixed assets - Enough time was not given to the assessee to produce sufficient evidence and the same has been mentioned in the written submissions also - The issue was restored for fresh adjudication. Depreciation on UPS - Held that:- UPS is an essential component of a computer system and ensures data integrity through uninterrupted supply of power - This is a dedicated system for computers only. Therefore, the depreciation rate to be allowed is 60% - Decided against assessee. Depreciation on library books - Held that:- The cost of the books is less than Rs. 5,000 - 100% depreciation claimed by the assessee is to be allowed - Decided in favour of assessee. Exemption u/s 10A - Held that:- Following Gemplus Jewellery India Ltd. [2010 (6) TMI 65 - BOMBAY HIGH COURT] - Even if the disallowance is sustained, it will only go to increase the business profits of the assessee which is exempt u/s 10A - Assessing Officer is directed to recompute the deduction after taking into account disallowances made - Decided in favour of assessee.
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