9911796707
TMI Blog2013 (8) TMI 185X X X X Extracts X X X X X X X X Extracts X X X X ..... is appeal is filed by the Assessee against the order of Ld. CIT(A)-1, Surat dated 10.3.2010 for assessment year 2007-08. 2. The facts as culled out from the lower authorities are as under. 3. Assessee is a company carrying on the business of brokers. Sub brokers consultants of financial products. The assessee electronically filed its return of income on 20.10.2007 showing total income of Rs. 5,8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the same. It is therefore prayed that the impugned assessment order be quashed as void-ab-initio since passed in defiance of principles of natural justice and fairness. [2] The learned Commissioner of Income Tax (Appeals) has erred in law and on facts in confirming the disallowance to the tune of Rs. 55,18,150/- being the software development and upgradation charges treating the same as cap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng Officer. Since there is a specific provisions for allowing depreciation on software expenses, the claim of the assessee as revenue expenditure cannot be allowed. The new depreciation rule has come with effect from assessment year 2003-04 onwards as amended in assessment year 2006-07 and hence the decision cited above by the appellant are not applicable. In view of the above, the Assessing Offic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have heard the rival submissions and perused the material on record. We find that the Revenue for A.Y. 2008-09 had carried before tribunal the matter with respect to disallowance of software development charges. The Co-ordinate Bench of Tribunal decided the issue in Assessee's favour by holding as under:- "Moreover, the Assessing Officer has disallowed the expenditure on software treating it as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d not have any right on the same, in this view of the matter , we do not find any infirmity into the order passed by Ld. CIT(A). This ground of Revenue's appeal is dismissed". 9. Since the facts of the case under appeal are identical to that of 2008-09, we therefore respectfully following the aforesaid order of coordinate Bench allow the appeal of the assessee. Thus the ground of assessee is allo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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