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2018 (4) TMI 1915 - ITAT DELHIReopening of assessment u/s 147 - Excess depreciation claim on computer software - AO held that rate of depreciation on intangible assets is to be allowed @25% and not @ 60% - HELD THAT:- CIT(A), firstly held the proceedings u/s.148 to be invalid for the reasons that there is no tangible material or information coming on record after the completion of the assessment and hence there cannot be any reason to believe for reopening the case; and secondly, AO has not disposed of the objection as per the guidelines laid down in the case of GKN Drive shafts (India) Ltd.[2002 (11) TMI 7 - SUPREME COURT] on the issue of rate of depreciation @ 60% or @ 25% he held that there is Hon'ble Jurisdictional High Court decision, wherein it has been held that for computer peripherals like software depreciation should be allowed @ 60% - there is no legal or factual infirmity in the order of the ld. CIT(A) - Decided against revenue.
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