Food import sampling requirements support provisional release where unseized consignments conform to standards and raw areca classification is unestab...
Diagnostic microcuvette classification follows sole-use analytical function, placing specialised disposable cuvettes with their analyser rather than g...
Customs Broker licensing proceedings fail when their offence-report foundation collapses and authorisation, advisory, and KYC duties remain unbreached...
Tariff classification of Digital Axle Counters affirmed as electro-mechanical railway signalling equipment, eliminating duty, confiscation and penalty...
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 4888 
