UPS entitled to higher rate depreciation @ 60% being accessories and peripherals forming integral part of computer system

In a recent judgment, ITAT Delhi has allowed depreciation on UPS at the higher rate of 60% allowable at computers following Delhi High Court judgment that  computer accessories and peripherals such as, printers, scanners and server etc. form an integral part of the computer system and cannot be used without the …

House Property Annual Value u/s 23(1). Whether flat ihabitable or not, a question of fact to be determined after appreciation of evidences

ITAT, Mumbai in a recent judgment has held that for determination of Annual Value of House property, u/s 23(1), whether the residential property (flat) was habitable or not was a question of fact that can be determined only after appreciation of evidences and remanded the case back to AO. Case Law Details: …

Availability of self owned interest free funds for disallowance u/s 36(1)(iii) can only be determined by examining the accounts

In a recent judgment, Amritsar has held that issue of availability of self owned interest free funds for making disallowance u/s 36(1)(iii) can only be determined by examining the accounts. Case Details: ITA No.66(Asr)/2016 Assessment year:2008-09   M/s. Sehdev Enterprises vs. Income Tax Officer Date of Order/Judgment: 21/04/2016 Brief Facts …
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