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2023 (4) TMI 368 - AT - Income TaxDepreciation on computer software - ‘Intangible Asset’ v/s ‘Computer Software’ - @25% or @60% - HELD THAT:- As relying on M/s Arkema Chemicals India P Ltd case [2022 (4) TMI 1182 - ITAT MUMBAI] CIT(A) has erred in denying the claim of depreciation made by the assessee on computer software @60% because assessee is entitled for depreciation on computer software, which is part of the computer @60%. Also software licence acquired by the assessee was in the nature of application software and is eligible for depreciation @60%. Assessing Officer is directed to provide depreciation as claimed by the assessee on computer software @60% - Appeal filed by the assessee is allowed.
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