https://www.taxtmi.com/caselaws?id=445906 ITAT Ahmedabad ruled in favor of the assessee on multiple issues. The tribunal upheld CIT(A)'s decision restricting management fees to 1.5% of operating revenue, citing previous ITAT precedent allowing 2% for manufacturing segment. Regarding depreciation on computer software, the tribunal confirmed 60% depreciation rate was appropriate, following HC precedents that software licenses qualify for higher depreciation rates. The tribunal also allowed the assessee's claim for consumption of self-generated electricity, noting proper documentation of generator rental invoices, fuel purchase receipts, and that manufacturing income was duly offered for taxation. en-us Fri, 10 Nov 2023 00:00:00 +0530 Tue, 21 Nov 2023 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445906 ITAT Ahmedabad ruled in favor of the assessee on multiple issues. The tribunal upheld CIT(A)'s decision restricting management fees to 1.5% of operating revenue, citing previous ITAT precedent allowing 2% for manufacturing segment. Regarding depreciation on computer software, the tribunal confirmed 60% depreciation rate was appropriate, following HC precedents that software licenses qualify for higher depreciation rates. The tribunal also allowed the assessee's claim for consumption of self-generated electricity, noting proper documentation of generator rental invoices, fuel purchase receipts, and that manufacturing income was duly offered for taxation. Case-Laws Income Tax Fri, 10 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445906