https://www.taxtmi.com/article/detailed?id=11891 Classification of ATMs as either computer equipment or plant and machinery determines income tax depreciation rates. Where ATMs perform data input, processing, storage and output functions and are computerized and networked in the assessee's business, tribunal precedent applies a functional test and has treated ATMs as computers, directing allowance of higher depreciation claimed by the assessee instead of the lower rate for ordinary plant and machinery. en-us Wed, 27 Sep 2023 08:38:10 +0530 Wed, 27 Sep 2023 08:38:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11891 Classification of ATMs as either computer equipment or plant and machinery determines income tax depreciation rates. Where ATMs perform data input, processing, storage and output functions and are computerized and networked in the assessee's business, tribunal precedent applies a functional test and has treated ATMs as computers, directing allowance of higher depreciation claimed by the assessee instead of the lower rate for ordinary plant and machinery. Articles Income Tax Wed, 27 Sep 2023 08:38:10 +0530 https://www.taxtmi.com/article/detailed?id=11891