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2018 (6) TMI 1505 - AT - Income TaxRate of depreciation allowable on printers and UPS/inventories i.e. computer accessories - Held that:- CIT(A) followed the proposition of law laid down by the ITAT, Kolkata Benches in the case of ITO vs. Samiran Majumdar [2005 (8) TMI 293 - ITAT CALCUTTA-B] and allowed 60% depreciation on these computer accessories. We see no infirmity in the same. Hence we uphold the same and dismiss the grounds of appeal. Disallowance of bad debts - Held that:- Claim u/s 36(1)(vii) of the Act is allowable once the assessee writes off debts as bad debts in its accounts and no further conditions need be satisfied. In the case appellant, the trade debts had been written off in the books of accounts in the year under consideration and hence allowable as deduction. In view of the above facts, and respectfully following the decision TRF Ltd [2010 (2) TMI 211 - SUPREME COURT] direct the AO to delete the disallowance made by him on account of bad debts. Computing book profits u/s 115JB - Held that:- AO that the provision for reduction of slow moving goods should be reduced from computation of book profits u/s 115JB. Adjudicating ground no.1 of the assessee’s appeal, we uphold the order of the CIT(A) and dismiss this ground of the revenue.
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