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

2011 (6) TMI 924 - ITAT 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 Memb .....

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ssee for A.Y. 2006-07 it transpired that assessee classified software under computers and claimed depreciation @ 60%. Ld.CIT observed that these assets were licenses classifiable as intangible asset, subject to depreciation @ 25%. Thus in his opinion .....

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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 .....

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e @ 60% which is in accordance with the clear provisions of law makes the order erroneous and prejudicial to the interests of the revenue. It has further been contended that the ld.CIT has also not appreciated the fact that the profits of the underta .....

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.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 .....

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includes input/output devices, UPS and systems software. In page 41 of the paper book the details of assets capitalized on software items has been disclosed as ORA401CA.OFO.V9.264 bit software. We find ourselves in agreement with the contention of th .....

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