https://www.taxtmi.com/caselaws?id=267208 The Tribunal ruled in favor of the assessee on various issues including the nature of payment for processing contracts, depreciation on leased cars and computers, rate of depreciation on cars, disallowance of computer repair expenses, and the validity of a notice issued under Section 148 of the Income Tax Act. The Tribunal held that the payment for processing contracts was revenue expenditure, allowed depreciation on leased assets, and dismissed the notice issued by the Revenue for reassessment, emphasizing that the original assessment had been comprehensive. en-us Wed, 30 Sep 2015 00:00:00 +0530 Mon, 02 Nov 2015 07:47:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267208 The Tribunal ruled in favor of the assessee on various issues including the nature of payment for processing contracts, depreciation on leased cars and computers, rate of depreciation on cars, disallowance of computer repair expenses, and the validity of a notice issued under Section 148 of the Income Tax Act. The Tribunal held that the payment for processing contracts was revenue expenditure, allowed depreciation on leased assets, and dismissed the notice issued by the Revenue for reassessment, emphasizing that the original assessment had been comprehensive. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267208