1

Commissioner (A) is not empowered to enhance income a new source of income vide 82ITR 9Trib) 176
1

It is assessee’s choice to select a method for determining FMV of shares vide 81 ITR (Trib) (SN) 78
1

No TP adjustment of trade receivables in case of a debt-free company vide 81ITR (Trib) (SN) 94
1

To accord registration as a charitable institution under income tax dominant purpose must be charitable and satisfies the conditions laid down us 2(15) vide 426ITR108 despite having non charitable ancillary objects meant to achieve the dominant purpose
1

Transactions with dubious entities is reason enough for case reopening vide 421ITR624

Computers and IPAD

ByCA Gopal Nathani

Sep 10, 2022

Computers are entitled to higher depreciation rate. However in the Act no definition of “computer“ can be found.

The bench of the Tribunal in [2022] 28 ITR (Trib)-OL 653 (ITAT[Amrit] using common parlance approach arrived a conclusion that ipad is not a computer, hence depreciation at low rate is applicable.

As per the bench an IPad is a communication device which has close lineage to a smart mobile phone with the its main features being e-mail, whatspp, facetime calls, calls, music, films etc.