Bom HC: Civil Court Can Invoke Sec 151 CPC to Dismiss a Suit as Infructuous if Cause of Action Ends  ||  Kerala HC: Arrest Grounds Need Not Be Shared With Foreigner’s Family If FRRO Or Embassy is Informed  ||  Delhi HC Granted Interim Relief to JioStar in a Dispute over Legends League Cricket Broadcast Rights  ||  SC: Dishonour of a Post-Dated Cheque Alone Does Not Establish Dishonest Intent For Cheating  ||  SC: Disciplinary Proceedings Started During Service May Continue After Retirement If Rules Allow  ||  Supreme Court: Earning Interest on a Bank Deposit Does Not Make it a Commercial Purpose  ||  CCI Dismisses Complaint Against Rapido over Use of Private Vehicles in Bike Taxi Service  ||  Allahabad HC: State Must Protect Individuals Threatened for Conducting Prayers in Private Spaces  ||  Madras HC: Habeas Corpus Petition Cannot Be Used if Wife Voluntarily Elopes with Another Man  ||  Calcutta High Court: Post-VRS Service Benefits Cannot be Denied; Ex-Employees Entitled to Arrears    

ITAT, Chennai Allows Depreciation on ATMs - (23 Mar 2020)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Chennai has held that the Automated Teller Machines (ATM) would be eligible for the higher rate of depreciation as these machines can be treated as “Computers” for the purpose of Section 32 of the Income Tax Act, 1961.

Tags : INCOME TAX APPELLATE TRIBUNAL   DEPRECIATION ON ATM  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved