ITAT allows 60% Depreciation on Computer & Related Software

ACIT Vs Indiabulls Ventures Ltd (ITAT Delhi)

The issue under consideration is whether the depreciation at the rate of 60% will be allowed for computer related software?

In the present case, the issue of excess depreciation claim the ld CIT (A) held that the assessee has purchased software on which the depreciation is allowable @60% and not @25% has allowed by the ld AO. Therefore, referring to the sub-clause 5 of clause III of part A appendix 1 to Rule 5(1) he held that on

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