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2018 (4) TMI 143 - AT - Income TaxHigher rate of depreciation on Cash Dispenser, ATM and its related accessories and UPS batteries - Held that:- We find that the assessee is eligible for depreciation @ 60% on ATM and other related accessories. As regards depreciation @ 60% on UPS is concerned, we find that though the UPS can independently function without the assistance or integration with a computer and is an alternate mode of supply of power and does not depend on any assistance from a computer, the computer can function only on a power supply and when there is no power supply, it is connected to UPS so that it can work uninterruptedly and without losing the unsaved data when the power goes off. Therefore, in our opinion, UPS also can be considered as a computer if it is connected to the ATM Machine or a Computer and depreciation thereon is allowable at 60%. AO is directed to verify if the UPS are used for the functioning of the ATM and allow depreciation accordingly. Interest on non-performing assets/sticky loan is to be recognized only when it is received or credited to the P&L A/c. - Held that:- We direct the AO to consider the interest on NPAs as income only in the year of receipt. The addition is accordingly deleted
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