Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
CGST - Acts + GST Rates GST Ntf. GST Forms GST - Manual GST - FAQ State GST Acts SGST Ntf. I. Tax Manual
Extracts
Home List
← Previous Next →

HCL Comnet Systems and Services Ltd. Versus CIT, Delhi IV, New Delhi

ITA No. 5906/Del/2010 - Dated:- 3-6-2011 - I. P. Bansal (Judicial Member) And Shamim Yahya (Accountant Member) For the Appellant : Ajay Vohra, Neeraj Jain, Pinky Kapoor For the Respondent : R. I. S. Gill, CIT, D.R. ORDER Shamim Yahya (Accountant Member) This appeal filed by the assessee is directed against the order u/s 263 of the I.T.Act of Ld.CIT, Delhi IV dated 30.9.2010 and pertains to A.Y. 2006-07. 2. In this case Ld.CIT noted that on examination of income tax assessment records of the asse .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

been satisfied that the order of AO is both erroneous and prejudicial to the interest of Revenue. Therefore he set aside the order of the A.O. for reconsideration of the matter. 3. Against the above order assessee is in appeal before us. 4. We have heard the rival contentions in the light of materials produced and precedents relied upon. Ld.Counsel of the assessee contended that ld.CIT has erred in setting aside AO s order without establishing as to how allowing depreciation on computer softwar .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

.D.R. on the other hand relied upon the orders of ld.CIT. 5. We have carefully considered the issue. We find that the issue under consideration is depreciation of computer software, and effective from A.Y. 2003-04. Computer software has to be treated as part of computer only and depreciation is allowable on the same @ 60%. Depreciation claim of assessee is appearing in page 37 of the paper book. 60% depreciation has been claimed on computers. By way of a note it has been mentioned that computer .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version