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2017 (4) TMI 441 - AT - Income TaxRate of depreciation allowable on computer software - Held that:- In the light of the precedent in the assessee’s own case, we deem it fit and proper to direct the Assessing Officer to allow the depreciation on computer software @ 60%. Accordingly, on this issue assessee succeeds. Disallowance made under section 14A - Held that:- CIT(A) following the judgment of Godrej & Boyce Mfg. Co. Vs. DCIT (2010 (8) TMI 77 - BOMBAY HIGH COURT) correctly noticed that rule 8D of the Rules was not applicable for the instant assessment year and that the same was applicable prospectively from assessment year 2008-09 onwards and, therefore, he disagreed with the action of the Assessing Officer and has corectly directed the Assessing Officer to restrict the disallowance under section 14A of the Act to2% of the exempted income, which came to ₹ 10,39,345/-. - Decided against assessee
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