9911796707
TMI Blog2011 (4) TMI 1412X X X X Extracts X X X X X X X X Extracts X X X X ..... This appeal by the Revenue for the Assessment Year 2005-06 arises out of the order of Ld. CIT(A) XIII, New Delhi. The grounds of appeal raised by the Revenue are reproduced as under: "1) On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in allowing the expenses amounting to ` 22.65 lacs proportionately out of administrative expenses of ` 22.33 crores treating to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the assessee that assessee had not incurred any expenditure for earning the tax free income. The tax free interest of ` 42,01,154/- was earned on ` 7.18 crores worth of REC and UTI bonds which had been purchased in the previous year. During the year, no financial expenses were made. No person was deputed specifically for earning the tax free income and interest/dividend was received automatica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pective in nature. Ld. CIT(A) in view of the decision of Hon'ble Bombay High Court and the decision of ITAT in assessee's own case for Assessment Year 2004-05 held that disallowance u/s 14A should be estimated at ` 1 lacs which had been already suo moto disallowed by the assessee in its return of income. Therefore, no further disallowance was warranted. 4. We have heard both the parties and g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... treated the computers and peripherals as plant & machinery and allowed depreciation @ 25%. On appeal, Ld. CIT(A) relying on the decision of ITAT in the case of ITO Vs Simran Majumdar 101 TTJ 501 and in the case of Expedators International (P) Ltd., Vs Addl. CIT 118 TTJ 2008 (Del.) held that output devices such as printer, scanner, server and port switches were computer peripherals and form part of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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