Higher Depreciation Allowed on UPS as Integral Part of Computer: Delhi HC

PCIT-7 Vs Tata Power Delhi Distribution Limited (Delhi High Court) In PCIT-7 Vs Tata Power Delhi Distribution Limited, the Delhi High Court dismissed the Income Tax Department’s appeal after condoning delays of 67 days in filing and 120 days in refiling. The appeal raised multiple substantial questions of law concerning deletion of additions and disallowances by the Income Tax Appellate Tribunal (ITAT). On the issue of derecognition of income relating to efficiency gains, the Court held that the matter was already covered by its earlier judgment dated 11.03.2020 and decided it against the De...