https://www.taxtmi.com/caselaws?id=211108 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to allow full depreciation on a VSAT network equipment used for screen-based trading in the capital market. The ITAT rejected the Assessing Officer's proposed restriction on depreciation, determining that the network was essential for the assessee's business and was exclusively used for business purposes, despite being accessed by brokers. The ITAT referenced relevant case law and emphasized that the network's primary purpose was for the assessee's business operations, leading to the allowance of full depreciation on the equipment. en-us Fri, 27 May 2011 00:00:00 +0530 Wed, 22 May 2013 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211108 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to allow full depreciation on a VSAT network equipment used for screen-based trading in the capital market. The ITAT rejected the Assessing Officer's proposed restriction on depreciation, determining that the network was essential for the assessee's business and was exclusively used for business purposes, despite being accessed by brokers. The ITAT referenced relevant case law and emphasized that the network's primary purpose was for the assessee's business operations, leading to the allowance of full depreciation on the equipment. Case-Laws Income Tax Fri, 27 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211108