Software eligible same rate of Depreciation as Computer System

ACIT Vs Caterpillar India Pvt. Ltd. (ITAT Chennai) Introduction: The Income Tax Appellate Tribunal (ITAT) in Chennai recently delivered an important verdict in the case of ACIT vs. Caterpillar India Pvt. Ltd. The case involved two significant issues: disallowance under section 40(a)(i) for lack of tax deduction at source on certain foreign payments and the rate of depreciation for computer software. This article provides a detailed analysis of the case and the ITAT’s decision. Detailed Analysis: In the case of ACIT vs. Caterpillar India Pvt. Ltd., two key issues were under consideration:...