https://www.taxtmi.com/forum/issue?id=114405 Whether depreciation is allowable on capitalised software development expenditure treated as an intangible asset when the product is completed and put to use. The company capitalised five years of development costs, applied for a patent (pending), did not claim depreciation in the years of expenditure, and later claimed depreciation on the capitalised intangible after marketing the product. The assessing officer argues the costs should have been claimed in the respective years rather than as depreciation. en-us Sat, 15 Dec 2018 18:00:22 +0530 Thu, 23 Jan 2025 15:55:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114405 Whether depreciation is allowable on capitalised software development expenditure treated as an intangible asset when the product is completed and put to use. The company capitalised five years of development costs, applied for a patent (pending), did not claim depreciation in the years of expenditure, and later claimed depreciation on the capitalised intangible after marketing the product. The assessing officer argues the costs should have been claimed in the respective years rather than as depreciation. Discussion-Forum Income Tax Sat, 15 Dec 2018 18:00:22 +0530 https://www.taxtmi.com/forum/issue?id=114405