https://www.taxtmi.com/caselaws?id=357918 The appeal was allowed by the Tribunal, overturning the disallowance of depreciation on software purchase under section 40(a)(ia) of the Income-tax Act for the assessment year 2010-11. The Tribunal held that the disallowance was unjustified for capitalized assets, citing the decision of the Hon'ble Punjab & Haryana High Court and clarifying that section 40(a)(ia) does not apply to expenses capitalized without a legal obligation for tax deduction at source. en-us Tue, 26 Dec 2017 00:00:00 +0530 Mon, 02 Apr 2018 08:37:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357918 The appeal was allowed by the Tribunal, overturning the disallowance of depreciation on software purchase under section 40(a)(ia) of the Income-tax Act for the assessment year 2010-11. The Tribunal held that the disallowance was unjustified for capitalized assets, citing the decision of the Hon'ble Punjab & Haryana High Court and clarifying that section 40(a)(ia) does not apply to expenses capitalized without a legal obligation for tax deduction at source. Case-Laws Income Tax Tue, 26 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357918