Software being an integral part, shall be eligible for same rate of Depreciation as applicable to Computer System: ITAT grants relief to Caterpillar India [Read Order]

Software being - integral part- same rate of Depreciation - applicable to Computer System-ITAT grants - Caterpillar India-TAXSCAN

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that the software is an integral part of the computer system and shall be eligible for the same rate of depreciation as applicable to the computer system. The assessee is stated to be engaged in the manufacturing and sale of moving machinery. During reassessment…

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