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Showing contexts for: computer includes computer software in Acit, New Delhi vs M/S. T.V. Today Network Ltd., New Delhi on 28 March, 2019Matching Fragments
3. On the facts and in the circumstances of the case and in law the learned CIT(A) has erred in deleting the addition of Rs.4,27,172/- made by the AO on account of software expenses by treating them as capital in nature. The C1T(A) failed to appreciate that as per new appendix-1 of the Income Tax rules, 1962, 'Computers including computer software‟ included in the block of' Machinery and Plant‟ is eligible for depreciation @ 60%. This does not make difference between the „application software‟ and the „system software‟."