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2010 (1) TMI 759 - AT - Income TaxDepreciation on ATMs - ATMs are Automated Teller System installed by the Bank to facilitate easy cash transaction, whose mechanical parts are controlled by a computer. The ATM being only a part of the system, depreciation on the whole machine cannot be claimed at the rate applicable to Computers as per Rule 5 of I.T. Rules - Held that:- Mumbai Tribunal in the case of Venture Infotek Global (P) Ltd., [2008 -TMI - 207821 - ITAT MUMBAI BENCH ‘A’] after due deliberation and elaborate discussion has given a specific finding with reference to ATM that they cannot be considered as computers, or parts thereof. - ATM's cannot be granted depreciation at the rates applicable to computers and dismiss the appeal of the assessee.
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