https://www.taxtmi.com/caselaws?id=76876 The High Court upheld the Tribunal's decision that the money paid for an annual maintenance contract (AMC) included in the invoice at the time of purchasing equipment should be considered part of the sale price of the equipment for tax assessment purposes. The court emphasized that the cost reflected in the invoice could be deemed the capital cost unless there were indications of fictitious pricing, fraud, or collusion. As the Assessing Officer failed to demonstrate any such exceptions, the High Court affirmed the Tribunal's factual finding, dismissing the appeal as no legal question was raised for consideration. en-us Thu, 29 Oct 2009 00:00:00 +0530 Sat, 24 Jul 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76876 The High Court upheld the Tribunal's decision that the money paid for an annual maintenance contract (AMC) included in the invoice at the time of purchasing equipment should be considered part of the sale price of the equipment for tax assessment purposes. The court emphasized that the cost reflected in the invoice could be deemed the capital cost unless there were indications of fictitious pricing, fraud, or collusion. As the Assessing Officer failed to demonstrate any such exceptions, the High Court affirmed the Tribunal's factual finding, dismissing the appeal as no legal question was raised for consideration. Case-Laws Income Tax Thu, 29 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76876