https://www.taxtmi.com/caselaws?id=285446 The High Court upheld the Tribunal's decision that Section 115 JB of the Income Tax Act did not apply to the assessee, finding no question of law. It also upheld the depreciation rate of electronic/energy meters at 80% based on a specific rule. The treatment of service line security deposits as capital receipts favored the assessee based on precedent. The change in valuation method to moving average was accepted, and the application of Section 2 (22) on deemed dividend was dismissed as the assessee was not a shareholder. Pending appeals were listed for further hearing on specific legal questions. en-us Wed, 14 Sep 2016 00:00:00 +0530 Mon, 13 Jan 2020 07:46:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285446 The High Court upheld the Tribunal's decision that Section 115 JB of the Income Tax Act did not apply to the assessee, finding no question of law. It also upheld the depreciation rate of electronic/energy meters at 80% based on a specific rule. The treatment of service line security deposits as capital receipts favored the assessee based on precedent. The change in valuation method to moving average was accepted, and the application of Section 2 (22) on deemed dividend was dismissed as the assessee was not a shareholder. Pending appeals were listed for further hearing on specific legal questions. Case-Laws Income Tax Wed, 14 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285446