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The Tax Publishers2021 TaxPub(DT) 0539 (Del-Trib) : (2021) 086 ITR (Trib) 0141 INCOME TAX ACT, 1961
Section 32(1)
Computer software was an intangible asset and, therefore, assessee was eligible for depreciation @ 60%.
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Depreciation - Rate of depreciation - Computer software -
Assessee engaged in the business of computer software development claimed depreciation @ 60% on computer software. AO allowed depreciation @ 25%. Held: Computer software was an intangible asset and, therefore, assessee was eligible for depreciation @ 60%.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2011-12
INCOME TAX ACT, 1961
Section 68
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