https://www.taxtmi.com/caselaws?id=314545 ITAT Bangalore ruled on multiple issues in this tax appeal. The tribunal allowed 80% depreciation on server/networking equipment, classifying it under instrumentation and monitoring systems, citing HC precedents. Depreciation on goodwill was upheld as an intangible asset following SC guidance in Smifs Securities. Revenue succeeded on section 194J disallowance, with tribunal applying amended provisions. For transfer pricing, Infosys was excluded from comparables following coordinate bench decisions, while LGS Global matter was remanded to CIT(A) for fresh adjudication rather than TPO referral. en-us Fri, 03 Mar 2017 00:00:00 +0530 Wed, 19 Jun 2024 08:34:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314545 ITAT Bangalore ruled on multiple issues in this tax appeal. The tribunal allowed 80% depreciation on server/networking equipment, classifying it under instrumentation and monitoring systems, citing HC precedents. Depreciation on goodwill was upheld as an intangible asset following SC guidance in Smifs Securities. Revenue succeeded on section 194J disallowance, with tribunal applying amended provisions. For transfer pricing, Infosys was excluded from comparables following coordinate bench decisions, while LGS Global matter was remanded to CIT(A) for fresh adjudication rather than TPO referral. Case-Laws Income Tax Fri, 03 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314545