https://www.taxtmi.com/caselaws?id=60148 The ITAT upheld the Ld. CIT(A)'s decision, allowing 60% depreciation on the printer and scanner, affirming them as integral components of the computer system. The Tribunal dismissed the revenue's appeal, referencing legal precedents and definitions from the Income Tax Act and the Institute of Chartered Accountants of India. The Tribunal concluded that the colour Xerox machine does not qualify as a computer, thus receiving 25% depreciation. The decision emphasized the interdependence of the printer and scanner with the computer, aligning with the principle that assets fulfilling specific technical functions qualify as plants for depreciation purposes. en-us Mon, 01 Aug 2005 00:00:00 +0530 Thu, 25 Apr 2024 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60148 The ITAT upheld the Ld. CIT(A)'s decision, allowing 60% depreciation on the printer and scanner, affirming them as integral components of the computer system. The Tribunal dismissed the revenue's appeal, referencing legal precedents and definitions from the Income Tax Act and the Institute of Chartered Accountants of India. The Tribunal concluded that the colour Xerox machine does not qualify as a computer, thus receiving 25% depreciation. The decision emphasized the interdependence of the printer and scanner with the computer, aligning with the principle that assets fulfilling specific technical functions qualify as plants for depreciation purposes. Case-Laws Income Tax Mon, 01 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60148