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2020 (7) TMI 506 - AT - Income TaxDepreciation on payment of brand license fees - HELD THAT:- We find that the year under appeal is the third year of claim of depreciation by the assessee on payment of brand license fees. Respectfully following the aforesaid decision in assessee‟s own case by this Tribunal, we direct the ld. AO to delete the disallowance made on account of depreciation on payment of brand license fees. Accordingly, the ground raised by the assessee are allowed. Disallowance of property tax which was reimbursed to Precision Components Pvt. Ltd., (PCPL) - HELD THAT:- Respectfully following the aforesaid decision in assessee‟s own case for the A.Y.2006-07 [2016 (4) TMI 1353 - ITAT MUMBAI] we remand this issue to the file of the ld. AO for fresh adjudication in accordance with law. Accordingly, the ground raised by the assessee is allowed for statistical purposes. Claim of depreciation on software expenditure - HELD THAT:- We find that the expenditure incurred towards software need to be treated as capital in nature in the facts and circumstances of the case before us and the ld. AO is directed to grant depreciation on the software expenditure incurred during the year in addition to granting depreciation on opening WDV of computer and computer software. Accordingly, the ground raised by the assessee is allowed for statistical purposes. TDS u/s 194C - Disallowance made by the ld. AO u/s.40(a)(ia) of the Act in respect of channel placement fees -HELD THAT:- As decided in UTV ENTERTAINMENT TELEVISION LTD. [2017 (11) TMI 915 - BOMBAY HIGH COURT]activities covered by Section 194C are more specific and the activities covered by Section 194J are more general in terms. - by no stretch of imagination, considering the nature of transaction, the argument that carriage fees or placement fees are in the nature of commission or royalty can be accepted. - we direct the ld. AO to delete the disallowance made u/s.40(a)(ia) of the Act in the hands of the assessee. Short grant of credit for tax deducted at source AND Short grant of foreign tax credit - HELD THAT:- We direct the ld. AO to verify the same with the relevant records and decide the issue as per law
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