https://www.taxtmi.com/caselaws?id=421516 The Tribunal allowed the assessee's appeal regarding the disallowance of depreciation on software ERP SAP, directing the Assessing Officer to delete the disallowance of depreciation on computer software. The Tribunal held that the software license should be treated as tangible assets for depreciation purposes, entitling the assessee to the higher rate of 60% depreciation, in line with the decision of the Hon'ble Madras High Court. The judgment emphasized the importance of specific entries in determining depreciation rates for assets and supported the assessee's claim. en-us Fri, 22 Apr 2022 00:00:00 +0530 Tue, 26 Apr 2022 08:17:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421516 The Tribunal allowed the assessee's appeal regarding the disallowance of depreciation on software ERP SAP, directing the Assessing Officer to delete the disallowance of depreciation on computer software. The Tribunal held that the software license should be treated as tangible assets for depreciation purposes, entitling the assessee to the higher rate of 60% depreciation, in line with the decision of the Hon'ble Madras High Court. The judgment emphasized the importance of specific entries in determining depreciation rates for assets and supported the assessee's claim. Case-Laws Income Tax Fri, 22 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421516