https://www.taxtmi.com/caselaws?id=358032 The ITAT Hyderabad ruled in favor of the assessee, a cooperative society engaged in banking, in a case involving a dispute over depreciation rates on certain assets and the tax treatment of interest income on NPAs for A.Y 2013-14. The Tribunal allowed a higher depreciation rate of 60% on specific assets like ATMs and related accessories, as well as UPS connected to computers or ATMs for uninterrupted power supply. Additionally, interest income on NPAs was directed to be recognized only when received, following legal precedents and statutory provisions. The judgment favored the appellant on both issues, ensuring a fair outcome. en-us Wed, 28 Feb 2018 00:00:00 +0530 Thu, 05 Apr 2018 08:21:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358032 The ITAT Hyderabad ruled in favor of the assessee, a cooperative society engaged in banking, in a case involving a dispute over depreciation rates on certain assets and the tax treatment of interest income on NPAs for A.Y 2013-14. The Tribunal allowed a higher depreciation rate of 60% on specific assets like ATMs and related accessories, as well as UPS connected to computers or ATMs for uninterrupted power supply. Additionally, interest income on NPAs was directed to be recognized only when received, following legal precedents and statutory provisions. The judgment favored the appellant on both issues, ensuring a fair outcome. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358032