https://www.taxtmi.com/caselaws?id=430689 The Tribunal upheld the CIT(A)'s decisions in the case, dismissing the appeals filed by the Revenue. The Tribunal affirmed that the royalty payment for using technology from a foreign company is revenue expenditure, not capital. It also confirmed that UPS and printers qualify for higher depreciation rates as integral parts of computers. Additionally, the Tribunal agreed that no expenses related to assumed exempt income should be disallowed when no such income was earned, in line with judicial precedents and consistent rulings. en-us Wed, 23 Nov 2022 00:00:00 +0530 Fri, 25 Nov 2022 08:07:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430689 The Tribunal upheld the CIT(A)'s decisions in the case, dismissing the appeals filed by the Revenue. The Tribunal affirmed that the royalty payment for using technology from a foreign company is revenue expenditure, not capital. It also confirmed that UPS and printers qualify for higher depreciation rates as integral parts of computers. Additionally, the Tribunal agreed that no expenses related to assumed exempt income should be disallowed when no such income was earned, in line with judicial precedents and consistent rulings. Case-Laws Income Tax Wed, 23 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430689