Computer software being integral for working of hardware are depreciable @60%

PCIT Vs Times Internet Limited (Delhi High Court) Delhi High Court held that the computer software which are necessary and integral for the working of hardware are eligible for depreciation at the rate of 60% instead of 25%. Facts- The appellant/revenue has preferred the present writ against OIO passed by ITAT. The appellant/revenue has mainly contested that ITAT has erred in deleting the disallowance of Rs. 20,84,878/- u/s. 14A r/w Rule 8D of the Income Tax Act; ITAT has erred in deleting disallowance made on account of depreciation for Rs. 32,12,253/- on software licences @25% and ITAT has e...