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"11. I am agreeable to the above contentions of the Ld AR of the assessee company. Firstly, the contemplated action for revision of quantum of depreciation allowed in respect of A.Y. 2006-07 in a proceeding initiated u/s 263 of IT Act for A.Y. 2007-08 is not permissible strictly in accordance with law. Even on merits. I am unable to reject the contention of the AR of the assessee company that the depreciation @ 60% is admissible on computer software because such rate has been provided in Appendix 1 and as per point No. 5 depreciation @ 60% is admissible on 'computers including computer software'. Accordingly, the proceeding initiated u/s 263 of IT Act on this issue is hereby dropped and no further action is called for."