Proprietary software held by taxpayer treated as intangible asset eligible for 60% depreciation allowance, overturning 25% limit

Proprietary software held by taxpayer treated as intangible asset eligible for 60% depreciation allowance, overturning 25% limit https://www.taxtmi.com/highlights?id=95988 Whether software acquired/held by the taxpayer qualifies for depreciation at 60% as an intangible asset: Tribunal applied precedent holding that software-even if developed in-house to meet proprietary requirements-falls within the statutory definition of intangible asset attractant of higher block rate, relying on prior authority establishing 60% allowance; accordingly the lower authorities' restriction to 25% was reversed and depreciation at 60% was allowed, resulting in allowance of the appeal. - ITAT en-us Tue, 13 Jan 2026 11:39:21 +0530 Tue, 13 Jan 2026 11:39:21 +0530 TaxTMI RSS Generator Proprietary software held by taxpayer treated as intangible asset eligible for 60% depreciation allowance, overturning 25% limit https://www.taxtmi.com/highlights?id=95988 Whether software acquired/held by the taxpayer qualifies for depreciation at 60% as an intangible asset: Tribunal applied precedent holding that software-even if developed in-house to meet proprietary requirements-falls within the statutory definition of intangible asset attractant of higher block rate, relying on prior authority establishing 60% allowance; accordingly the lower authorities' restriction to 25% was reversed and depreciation at 60% was allowed, resulting in allowance of the appeal. - ITAT Highlights Income Tax Tue, 13 Jan 2026 11:39:21 +0530 https://www.taxtmi.com/highlights?id=95988