Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (12) TMI 381 - AT - Income TaxAddition on account of interest of delayed payment of license fee - CIT(A) deleted the addition - Held that:- There is a difference in the telecom policy which was upto July 1999 and new policy came into picture with effect from01/08/1999. The present licence fee is for financial year 2003-04, which is post July, 1999, therefore, the basic licence fee is allowable. It is also noted that for earlier year, even the Assessing Officer allowed the same as revenue expenditure. The allotment was under the old policy was allowed as revenue deduction and book entry was amortized as revenue fees. Even otherwise, the ratio laid down in CIT vs Bharti Hexacom Ltd. (2013 (12) TMI 1115 - DELHI HIGH COURT) supports the case of the assessee, thus, we find no infirmity in the conclusion drawn by the ld. Commissioner of Income Tax (Appeals), more specifically when, no contrary decision was brought to our notice. - Decided in favour of assessee. Addition on account of excess claim of depreciation on printers, UPS and other accessories - CIT(A) deleted the addition - Held that:- Peripherals such as printers, scanners, NT server etc, are integral part of computer, therefore, eligible for depreciation at higher rate. See DCIT vs Datacraft India Ltd. (2010 (7) TMI 642 - ITAT, MUMBAI), DCIT vs BTA Cellcom Ltd. (2011 (9) TMI 127 - ITAT, New Delhi), M/s Weizmann Ltd. vs DCIT (2013 (12) TMI 779 - ITAT MUMBAI)& Expeditors International (India) Pvt. Ltd. vs Addl. CIT (2008 (8) TMI 399 - ITAT DELHI-F ). - Decided in favour of assessee.
|