The expenditure has been incurred on mobile phones and LCD on ...

Mobile Phones and LCDs Classified as Capital Expenditure, Eligible for Depreciation Claims in Asset Block for Tax.

January 26, 2014

Case Laws Income Tax AT

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 block of assets - AT

View Source

← Previous Next →

The expenditure has been incurred on mobile phones and LCD on ...

Mobile Phones and LCDs Classified as Capital Expenditure, Eligible for Depreciation Claims in Asset Block for Tax.

January 26, 2014

Case Laws Income Tax AT

You may also like:

CESTAT ruled on classification disputes for various mobile phone components. The Tribunal held that Receivers should be classified under CTH 85177090 as phone parts, not...

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

Depreciation on mobile phones - @15% OR 60% - There are smart phones which do function equivalent to the computers or much more than a computer, if the functionality of...

Mobile Battery Chargers (MBC), cannot be treated as part of the Mobile Phones itself and they are mere accessories of the Mobile Phone and are to be taxed separately...

Classification of imported goods - earphones with microphones - the earphone will qualify as an accessory which can be used with cellular mobile phone as well as other...

This circular clarifies the applicability of concessional duty under Import of Goods at Concessional Rate of Duty (IGCR) Rules, 2022 in certain instances. It addresses...

Depreciation on vehicles u/s 32 - @30% or 50% - special rate of depreciation - assessee has claimed depreciation @ 50% i.e. on tankers - Since the assessing officer has...

Mobile phone battery is a part or component of the mobile handset because without a battery, the mobile handset cannot function. Such being the position, the...

Disallowance of non-compete fees - Capital or revenue expenditure - expenditure has to be disallowed as capital expenditure - however depreciation to be allowed - AT

Classification of imported goods - the LCD Panels are to be classified under Chapter Heading 9013 8010 and parts of LCD panels are to be classified under Chapter Heading...

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...

Disallowance of software expenses - Disallowance is in respect of expenditure claimed towards “repairs - computers-annual maintenance” and “Repairs-computers-others” -...

Disallowance of the claim of depreciation on intangible asset - amalgamation scheme initiated - when there is no transfer of the asset as well as there is no valuation...

Computation of deduction u/ss 80IB/80IC and 10B - AO allocated Head Office expenses to eligible units, reducing deduction. Tribunal consistently restores issue with...

Capital expenditure or revenue expenditure - the expenditure incurred in regaining this profit company unit is in the nature of a capital expenditure and not the revenue...

Quick Updates: