TMI Blog2012 (3) TMI 527X X X X Extracts X X X X X X X X Extracts X X X X ..... n 31.3.2008. On going through the facts on this issue also, we feel that the assessee company has gone on to prove that the software which was actually acquired and put to use on 31.3.2008 and hence, the assessee company has rightly claimed depreciation at 30% (being 50% of 60%). We, accordingly, allow the grievance of the assessee on this count. - ITA No.3606 /Mum/2011 - - - Dated:- 14-3-2012 - SHRI B.RAMA KOTAIAH(ACCOUNTANT MEMBER) AND SHRI VIVEK VARMA (JUDICIAL MEMBER) For the Appellant : Mr M.C.Naniwadekar For the Respondent: Mr C.G.K. Nair ORDER Per Vivek Varma, JM: The appeal herein emanates from the order dated 23.2.2011 of the CIT(A)-22, Mumbai, wherein, the CIT(A) has upheld the additions made by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s concerned, held that this cash dispensing machine with a projector, and here too, the AO held that there were only part of plant and machinery/office equipment and eligible for depreciation @ 15%. The AO, therefore, disallowed excess depreciation amounting to ₹ 11,02,442 and added it back to the income of the assessee company. The AO, further disallowed depreciation of ₹ 50,54,400 on account of purchase of software licence, holding that the assessee company could not prove that the assessee physically received the licence by 31.3.2008 and sent them to its branches who in turn installed and put the same in use on 31.3.2008. The AO, therefore, disallowed the depreciation and added it back to the assessee s income. 3. Aggrieve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case of Orient Ceramics Ind Ltd (supra) should be followed. 6. Coming to the restriction of depreciation on ATM, the AR invited our attention to the observations of the revenue authorities, wherein, they had observed that the ATMs were just cash dispenser and projector and not a computer aided peripheral. The A.R. has placed certain photographs alongwith short descriptions as to how the ATM functions. From the short descriptions, it can be seen that ATM functions entirely through the functions of a computer. The AR thus invited our attention to the written submission, wherein, the AR pleaded before the revenue authorities that ATM cannot function without the help of a computer and is certainly an important computer peripheral for bank ..... X X X X Extracts X X X X X X X X Extracts X X X X
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