https://www.taxtmi.com/caselaws?id=305783 The Revenue's appeal was dismissed, upholding the CIT(Appeals) orders on the depreciation rate for software and the disallowance of lease equalization charges under Section 115JB. The Tribunal found that software qualified for 60% depreciation as per Income-tax Rules, rejecting the Revenue's argument based on the previous year's decision. Additionally, the Tribunal upheld the CIT(Appeals) decision regarding the lease equalization charges, in line with a High Court ruling that such charges should not be added back to profits. en-us Tue, 31 Jan 2012 00:00:00 +0530 Sat, 24 Dec 2022 10:36:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305783 The Revenue's appeal was dismissed, upholding the CIT(Appeals) orders on the depreciation rate for software and the disallowance of lease equalization charges under Section 115JB. The Tribunal found that software qualified for 60% depreciation as per Income-tax Rules, rejecting the Revenue's argument based on the previous year's decision. Additionally, the Tribunal upheld the CIT(Appeals) decision regarding the lease equalization charges, in line with a High Court ruling that such charges should not be added back to profits. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305783