https://www.taxtmi.com/caselaws?id=395157 The Tribunal determined that the lease agreement between the assessee and CISCO was a finance lease, entitling the assessee to claim depreciation on the assets. It held that the principal component of the lease rental could not be treated as revenue expenditure. Additionally, the Tribunal allowed depreciation on Set Top Boxes (STBs) at a rate of 60%, considering their functional similarity to computers. Various disallowances under the Income Tax Act were addressed, including interest expenditure and deductions under different sections. The Tribunal stressed the significance of accurate classification of transactions and assets for tax compliance. en-us Wed, 06 May 2020 00:00:00 +0530 Fri, 08 May 2020 11:38:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395157 The Tribunal determined that the lease agreement between the assessee and CISCO was a finance lease, entitling the assessee to claim depreciation on the assets. It held that the principal component of the lease rental could not be treated as revenue expenditure. Additionally, the Tribunal allowed depreciation on Set Top Boxes (STBs) at a rate of 60%, considering their functional similarity to computers. Various disallowances under the Income Tax Act were addressed, including interest expenditure and deductions under different sections. The Tribunal stressed the significance of accurate classification of transactions and assets for tax compliance. Case-Laws Income Tax Wed, 06 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395157