Computer Software Eligible for 60% Depreciation: ITAT Chennai

Cognizant Technology Solutions India Pvt. Ltd. Vs DCIT (ITAT Chennai) ITAT Restricts Section 14A Disallowance Because Only Investments Yielding Exempt Income Can Be Considered; Computer Software Eligible for 60% Depreciation Because It Falls Under Specific Depreciation Entry; Fresh Claims Remanded Because Long-Term Capital Loss and RBI Compounding Fee Required Verification; ITAT Upholds Set-Off of Section 10AA Unit Losses Based on Binding High Court and Supreme Court Rulings; No Section 14A Addition to MAT Book Profit Because Rule 8D Disallowance Cannot Be Added Back. The assessee and the Reve...