Case Law Details
Case Name : Peninsula Land Ltd. Vs Addl. CIT (ITAT Mumbai)
Related Assessment Year : 2008-09
Courts :
All ITAT ITAT Mumbai
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Peninsula Land Ltd. Vs Addl. CIT (ITAT Mumbai)
ITAT Mumbai held that with effect from 1st April 2003, Computer Software has been classified as a tangible asset under the heading ‘Plant’ entitled for depreciation @60%.
Facts-
The issue is with regard to restricting depreciation on software expenses at 25% instead of 60%. AR of the assessee reiterated the submissions made before CIT(A). Further, he submitted that the issue relating the software expenses has been considered by the special benc
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