Tata Consultancy Services Vs. ACIT (ITAT Mumbai)

Topic:

There are two matters:-

  1. Whether payments made for purchase of unexpired processing contracts can be treated as capital in nature.
  2. Whether depreciation on lease of cars and computers can be disallowed treating the same as financial lease in nature. In the event of allowance of depreciation of cars, whether the rate of depreciation could be 40 % treating the same as “Commercial vehicles” even if used for own purpose.

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