https://www.taxtmi.com/caselaws?id=800670 Banking companies governed by the Banking Regulation Act, 1949 fall outside the minimum alternate tax regime under Section 115JB. Leave-encashment liability may accrue under the mercantile system, but Section 43B(f) defers its tax deduction until actual payment to the employee. UPS qualifies for depreciation at the computer-equipment rate where it forms an integral part of the computer system and lacks independent functional use. Accordingly, minimum alternate tax does not apply to the banking company, leave-salary provision is deductible only on payment, and UPS receives computer-equipment depreciation. en-us Tue, 29 Sep 2026 00:00:00 +0530 Fri, 09 Oct 2026 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800670 Banking companies governed by the Banking Regulation Act, 1949 fall outside the minimum alternate tax regime under Section 115JB. Leave-encashment liability may accrue under the mercantile system, but Section 43B(f) defers its tax deduction until actual payment to the employee. UPS qualifies for depreciation at the computer-equipment rate where it forms an integral part of the computer system and lacks independent functional use. Accordingly, minimum alternate tax does not apply to the banking company, leave-salary provision is deductible only on payment, and UPS receives computer-equipment depreciation. Case-Laws Income Tax Tue, 29 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800670