https://www.taxtmi.com/caselaws?id=436342 The Tribunal allowed the appellant's appeal, directing the Assessing Officer to permit depreciation on computer software at 60%, in line with the categorization of "computers and computer software" under plant and machinery. The Tribunal held that the software license acquired was akin to application software, qualifying for the higher depreciation rate, contrary to the Ld.CIT(A)'s decision. The appeal was successful based on precedents and the software's nature, with the decision announced on 23/02/2023. en-us Thu, 23 Feb 2023 00:00:00 +0530 Tue, 11 Apr 2023 09:11:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436342 The Tribunal allowed the appellant's appeal, directing the Assessing Officer to permit depreciation on computer software at 60%, in line with the categorization of "computers and computer software" under plant and machinery. The Tribunal held that the software license acquired was akin to application software, qualifying for the higher depreciation rate, contrary to the Ld.CIT(A)'s decision. The appeal was successful based on precedents and the software's nature, with the decision announced on 23/02/2023. Case-Laws Income Tax Thu, 23 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436342