2009 (10) TMI 388

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.... Income-tax Appellate Tribunal (hereinafter referred to as "the Tribunal"), has arrived at a finding of fact, in the facts situation appearing on record, that the money paid for annual maintenance contract (AMC) for ten years warranted, which was included in the invoice at the time of purchase of equipment should be included as sale price of the said equipment.  In this regard, learned counse....

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....and the assessee and there has been inflation or deflation of value for ulterior purposes it is open to the income-tax authorities to refuse to accept the price mentioned or allocation given in the deed or alleged by the assessee and to ascertain what the actual cost was or to determine the allocation between depreciable and non-depreciable assets." 2. In its judgment, the Supreme Court has cla....