https://www.taxtmi.com/caselaws?id=207806 The Appellate Tribunal condoned the delay in filing the appeal. The dispute centered on the classification of Automated Teller Machines (ATMs) for depreciation purposes. The Commissioner of Income Tax (CIT) classified ATMs as Plant and Machinery eligible for 25% depreciation, not as computers. The Tribunal upheld the CIT's decision, ruling that ATMs are not computers but mechanical devices controlled by computers, thus warranting depreciation at 25% as Plant and Machinery. The Tribunal referenced precedent to support its decision, concluding that ATMs do not qualify for higher depreciation rates applicable to computers. en-us Thu, 07 Jan 2010 00:00:00 +0530 Mon, 26 Dec 2011 07:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207806 The Appellate Tribunal condoned the delay in filing the appeal. The dispute centered on the classification of Automated Teller Machines (ATMs) for depreciation purposes. The Commissioner of Income Tax (CIT) classified ATMs as Plant and Machinery eligible for 25% depreciation, not as computers. The Tribunal upheld the CIT's decision, ruling that ATMs are not computers but mechanical devices controlled by computers, thus warranting depreciation at 25% as Plant and Machinery. The Tribunal referenced precedent to support its decision, concluding that ATMs do not qualify for higher depreciation rates applicable to computers. Case-Laws Income Tax Thu, 07 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207806