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Grounds relating to depreciation on UPS

1. The Ld. AO/ Hon'ble DRP has erred in considering UPS as 'office equipment' eligible for depreciation at the rate of 15 percent as per Appendix I of the Income-tax Rules, 1962 ("the Rules').

IT(TP)A No.58/Chny/2018

2. The Ld. AO/ Hon'ble DRP ought to have appreciated that UPS forms part of the block of assets termed as Computers including computer software' and is eligible for depreciation at the rate of 60 percent as per Appendix I of the Rules.

3. The Ld. AO has erred in not considering the rectification petition that was filed by the Appellant under section 154 of the Act in relation to the double disallowance of depreciation by the Ld. AO for two (2) particular assets, the details of which have been explained in said rectification petition.

4. The Ld. AO has erroneously disallowed the excess depreciation claimed of two (2) particular assets by considering the same as forming part of the block of assets termed as 'Computers including Computer software', without considering that the excess depreciation of such assets have been already disallowed under the block of assets termed as 'Plant & Machinery'