https://www.taxtmi.com/caselaws?id=403401 The ITAT dismissed the revenue's appeal, upholding the CIT(A)'s decision to allow the assessee's claim of 60% depreciation on software and intellectual property rights. It also confirmed the deletion of the addition under Section 68 for unexplained cash credits. The ITAT emphasized the importance of consistency and lack of substantial evidence from the AO to justify the disallowances and additions made. en-us Thu, 21 Jan 2021 00:00:00 +0530 Sat, 03 Apr 2021 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403401 The ITAT dismissed the revenue's appeal, upholding the CIT(A)'s decision to allow the assessee's claim of 60% depreciation on software and intellectual property rights. It also confirmed the deletion of the addition under Section 68 for unexplained cash credits. The ITAT emphasized the importance of consistency and lack of substantial evidence from the AO to justify the disallowances and additions made. Case-Laws Income Tax Thu, 21 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403401