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2021 (11) TMI 680 - AT - Income TaxDepreciation on the Policy Administration Software ("PAS") - @ 60% against the rate of 25% allowed by the Assessing Officer treating the same as an intangible assets - DR vehemently argued that Ld. CIT(A) was not justified in allowing the claim of depreciation @ 60% as the software was customized and could be used without the operation of computer - HELD THAT:- The issue is no more res integra. The issue has already been decided in catena of judgments in favour of the assessee by allowing the depreciation @ 60%. See case of CIT vs. Computer Age Management Services (P.) Ltd. [2019 (7) TMI 1153 - MADRAS HIGH COURT] decided the issue in favour of the assessee by allowing depreciation @ 60%. Also see AMWAY INDIA ENTERPRISES. VERSUS DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 1(1), NEW DELHI. [2008 (2) TMI 454 - ITAT DELHI-C] - Decided against revenue.
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