Purchase of 120 Computers by Publishers cannot be said for ‘Personal Use’: ITAT allows Depreciation [Read Order]

Computers - Publishers - ITAT - Depreciation - taxscan

The Income Tax Appellate Tribunal (ITAT), Chennai bench has allowed a depreciation claim under section 32 of the Income Tax Act, 1961 by observing that the purchase of 120 computers by the assessee-Publisher cannot be treated as for personal use. The assessee, Jaya Publications, is engaged in publications. The assessee purchased computers for Rs.51.18 Lacs…

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