https://www.taxtmi.com/caselaws?id=274879 The Tribunal allowed the appeal, granting depreciation at the rate of 60% for the purchase of design software by the assessee, a private limited company in the petrochemical business. Despite the initial denial of the claim by the Ld.AO and the partial relief granted by the Ld.CIT(A), the Tribunal ruled that the purchase constituted design software falling under computer software as per Note 7 of the Rules, thereby directing the Ld.AO to allow the higher depreciation rate. en-us Thu, 22 Mar 2018 00:00:00 +0530 Sat, 08 Sep 2018 08:05:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274879 The Tribunal allowed the appeal, granting depreciation at the rate of 60% for the purchase of design software by the assessee, a private limited company in the petrochemical business. Despite the initial denial of the claim by the Ld.AO and the partial relief granted by the Ld.CIT(A), the Tribunal ruled that the purchase constituted design software falling under computer software as per Note 7 of the Rules, thereby directing the Ld.AO to allow the higher depreciation rate. Case-Laws Income Tax Thu, 22 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274879