Personal liberty safeguards restrict arrest after court-directed GST appearance, requiring interim release where authorities overreach pending proceed...
Alternative statutory remedy and delay bar GST writ challenges despite pending rectification, while distinct subject matter permits parallel proceedin...
Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
The Appellate Tribunal addressed the disallowance of depreciation claimed on software purchases u/s 40(a)(i)/(ia) due to non-deduction of tax at source. The AO contended that the software purchased were copyrights, hence payments were royalty. However, depreciation is a statutory deduction u/s 32, irrespective of TDS. The Tribunal cited a Supreme Court ruling emphasizing that for a payment to be royalty, there must be a right to use without commercially exploiting intellectual property. The Tribunal allowed the assessee's appeal on this issue. Regarding depreciation on servers/network equipment, the Tribunal relied on precedent and granted depreciation at 60%. The revenue's arguments were rejected.
The Appellate Tribunal addressed the disallowance of depreciation claimed on software purchases u/s 40(a)(i)/(ia) due to non-deduction of tax at source. The AO contended that the software purchased were copyrights, hence payments were royalty. However, depreciation is a statutory deduction u/s 32, irrespective of TDS. The Tribunal cited a Supreme Court ruling emphasizing that for a payment to be royalty, there must be a right to use without commercially exploiting intellectual property. The Tribunal allowed the assessee's appeal on this issue. Regarding depreciation on servers/network equipment, the Tribunal relied on precedent and granted depreciation at 60%. The revenue's arguments were rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
