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TMI Blog2010 (12) TMI 1220X X X X Extracts X X X X X X X X Extracts X X X X ..... 8, Mumbai dated 19.01.2010 and in the solitary ground raised therein, the assessee has challenged the additions of ₹ 7,35,145/- and ₹ 18,228/- made by the A.O. and confirmed by the ld. CIT(A) on account of disallowance of expenses u/s 14-A and depreciation on UPS and Scanner respectively. 2. The assessee in the present case is a company which is engaged in the business of manufactur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xpenses attributable to earning of exempt dividend income thus was worked out by the A.O. at ₹ 7,35,145/- by applying Rule 8-D and the said amount was disallowed by him by invoking the provisions of section 14-A. On appeal, the ld. CIT(A) confirmed the said disallowance made by the A.O. 3. We have heard the arguments of both the sides and also perused the relevant material on record. In i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of Hon ble Bombay High Court in the case of Godrej Boyce Mfg. Co. Ltd. (supra). As further submitted by the learned counsel for the assessee in this context, investment in the shares which fetched the dividend income having been made by the assessee out of its own funds and not from the borrowed funds, there was no interest expenditure incurred by the assessee in relation to earning of dividend ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... data processing device and includes all input and output devices which are connected to or related to it. Respectfully following the said decision of the Special Bench, we hold that the assessee is entitled to claim higher depreciation of 60% on Scanner being an input device which is connected to the computer. As regards the UPS, we are of the view that the assessee is not entitled for higher depr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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