https://www.taxtmi.com/caselaws?id=178092 UPS is treated as part of computer hardware for depreciation purposes and qualifies for the higher 60% rate applicable to computers. For disallowance under section 14A read with Rule 8D(2)(iii), the computation is confined to the average value of investments that actually yielded exempt income and cannot extend to all investments in the balance sheet. The Revenue's challenge therefore failed on both points, with the expenditure disallowance sent back only for recomputation on the restricted basis. en-us Fri, 28 Nov 2014 00:00:00 +0530 Wed, 27 Jan 2016 23:21:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178092 UPS is treated as part of computer hardware for depreciation purposes and qualifies for the higher 60% rate applicable to computers. For disallowance under section 14A read with Rule 8D(2)(iii), the computation is confined to the average value of investments that actually yielded exempt income and cannot extend to all investments in the balance sheet. The Revenue's challenge therefore failed on both points, with the expenditure disallowance sent back only for recomputation on the restricted basis. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178092