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2015 (7) TMI 239 - AT - Income TaxDepreciation on computer accessories and peripherals - @60% OR 25% - Held that:- As relying on case of CIT vs. BSES Rajdhani Powers Limited [2010 (8) TMI 58 - DELHI HIGH COURT ] Computer accessories and peripherals such as, printers, scanners and server etc. form an integral part of the computer system. In fact, the computer accessories and peripherals cannot be used without the computer. Consequently, as they are the part of the computer system, they are entitled to depreciation at the higher rate of 60%. - Decided in favour of assessee. TP adjustment - CIT(A) deleting the addition made by the AO u/s. 92CA(4) on account of TP adjustment - Held that:- CIT (A) had taken note that the arm's length margin of finally selected comparable companies is 15.95% against the assessee's margin of 12% for provision of contract software development services. The ld. CIT (A) found that the OP/TC of 12% earned by the appellant falls within the range allowed by Proviso to Section 92C(2) of the Act. Accordingly, the ld. CIT (A) rightly found that the assessee's international transactions with its AE's with respect to provision of contract software development services during the FY 2004-05 is at arm's length. CIT(A) has rightly held that the assessee‟s international transaction was at arm‟s length and thus no addition as directed by the TPO was warranted. In the background of the aforesaid discussions and respectfully following the precedent as aforesaid as laid in Agnity India Technologies (2010 (11) TMI 852 - ITAT DELHI ), we do not find any infirmity in the impugned order of the Ld. CIT(A) on the ALP issue, which does not need any interference on our part, hence, we uphold the same - Decided in favour of assessee.
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