Home Highlights November 2013 Year 2013 This

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1. Claim of higher depreciation of ‘Bizerba weighing scales’ - A photocopy (xerox) machine can also be attached to a computer, however, that does not entitle it for...

2. Depreciation on the loss incurred units of CANSTAR or revenue expenditure - The assessee would be entitled to the claim as expenditure incurred in the business - HC

3. The expenditure has been incurred on mobile phones and LCD on which assessee is entitled to claim depreciation - The expenditure are capital expenditure forming part of...

4. Nature of expenditure incurred towards research and development - The fact that the expenses incurred by the assessee towards research and expenses have been met out of...

5. Deduction of research and development expenses claimed u/s 35(2AB) - weighted deduction - whether the expenditure claimed by the assessee is required to be approved by...

6. Nature of expenditure - Disallowance of expenditure under the "head repairs and maintenance"- AO rejected the assessee's contention and held that the assessee is...

7. Depreciation on apple ipad - at the general rate of 15% OR 60% - whether the iPad falls in the definition of computer or mobile phone? - in case the assessee wishes to...

8. Disallowance of excess depreciation on computer software - assessee had purchased software being operating system for Windows and claimed depreciation as per Rule 5 of...

9. Computation of capital gains - The expenditure incurred in pursuant to or as an obligation under the Joint Development Agreement can be claimed as business expenditure...

10. Depreciation on POS terminals - assessee was entitled to the depreciation at 60% on the ground that the equipment was akin to a computer

11. Depreciation - Whether the chlorine toners used by the assessee were gas cylinders – Gas cylinders including valves and regulators were entitled to depreciation at the...

12. Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

13. Deduction u/s.35 AD(5)(aa) - whole of capital expenditure incurred for purpose of development of hotel claimed - We restore the issue to file of the Assessing Officer...

14. Claim of Expenditure on hawala business - Assessee also did not submit any proof of incurring any expenditure. Income was also not assessed on net basis @ 0.30 %. No...

15. Depreciation on foreign exchange fluctuation loss - foreign currency term loan availed for purchase of windmill - since the assessee has capitalized and claimed...