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Showing contexts for: computer includes computer software in Sudarshan Chemical Industries Ltd. vs Assistant Commissioner Of Income Tax on 29 December, 2006Matching Fragments
15. It needs to be mentioned that the matter before the Bombay High Court related to asst. yrs. 1970-71, 1971-72, and 1972-73 and that before the Rajasthan High Court related to asst. yr. 1984-85. The expression 'know-how' was introduced in Clause (ii) of Section 32(1) for and from asst. yr. 1999-2000. And, for and from asst. yr. 2003-04, a new entry was introduced as S. No. III (5) in Part-A of the table of rates for depreciation in Appendix-I in respect of 'computers including computer softwares'.
19. The AO treated the aforesaid license acquired vide agreement dt. 4th March, 1999 as an 'intangible asset' qualifying for depreciation under the provisions of Clause (ii) of Section 32(1) of the Act. He allowed depreciation at 25 per cent which is the rate mentioned in Part B of the table of rates in Appendix-I applicable to intangible assets. The rate of 60 per cent applicable in respect of 'computers including computer software' was introduced for and from asst. yr. 2003-04. Therefore, the alternative plea claiming depreciation @ 60 per cent has no merit and is rejected. The ground Nos. 4, 5, and 6 are accordingly rejected.