TMI Blog2013 (1) TMI 861X X X X Extracts X X X X X X X X Extracts X X X X ..... d ATM cannot function without the help of computer and would be a part of the computer used in the banking industry - hence depreciation at 60% is allowed - Tribunal records a fact that the evidence of the use of the software on 31/3/2008 was produced before the Tribunal - Thus, the Tribunal held that depreciation @ 30% on software was rightly claimed - decided in favor of assessee - INCOME T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the fact that ATM is a cash dispensing machine with a projector and therefore is in nature of plant and machinery and therefore depreciation should be provided @ 15%? c) Whether on the facts and circumstances of the case the ITAT was right in holding that depreciation on purchase of software is to be allowed ignoring the fact that assessee has failed to prove that assessee has physically re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... office equipment would be eligible for depreciation only at 15%. Similarly, he disallowed the claim for depreciation on software licence on the ground that the same was not put to use in the previous year to the assessment year 2008- 09. Consequently the excess claim of depreciation made by the respondent assessee was disallowed. 4) In appeal the CIT (Appeals) upheld the findings of the Assessi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elhi Bench of Tribunal in the matter of DCIT v. Global Trust Bank (ITA No.474/D/09) wherein it has been held that ATM was a computer equipment and depreciation @ 60% was allowed. So far as the use of software is concerned, the Tribunal records a fact that the evidence of the use of the software on 31/3/2008 was produced before the Tribunal. Thus, the Tribunal held that depreciation @ 30% on softwa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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