https://www.taxtmi.com/caselaws?id=294844 The Tribunal dismissed the Department's appeals and the assessee's cross-objection (CO), affirming the CIT(A)'s decisions. It upheld the deletion of additions related to royalty payments, extra depreciation on UPS, and interest income, emphasizing the distinction between capital and revenue expenditures and the proper timing for income recognition. The Tribunal confirmed that royalty payments were revenue expenditures as there was no ownership transfer, allowed a higher depreciation rate for UPS, and agreed that interest income was correctly declared post-dispute resolution. The CO challenging reassessment initiation was dismissed as unpressed. en-us Thu, 21 Jul 2016 00:00:00 +0530 Thu, 14 Nov 2024 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294844 The Tribunal dismissed the Department's appeals and the assessee's cross-objection (CO), affirming the CIT(A)'s decisions. It upheld the deletion of additions related to royalty payments, extra depreciation on UPS, and interest income, emphasizing the distinction between capital and revenue expenditures and the proper timing for income recognition. The Tribunal confirmed that royalty payments were revenue expenditures as there was no ownership transfer, allowed a higher depreciation rate for UPS, and agreed that interest income was correctly declared post-dispute resolution. The CO challenging reassessment initiation was dismissed as unpressed. Case-Laws Income Tax Thu, 21 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294844