Depreciation rate on printers under Income Tax. Computer peripherals like printers part of computer system & entitled for depreciation at the rate of 60%
ABCAUS Case Law Citation:
ABCAUS 3159 (2019) (09) ITAT
Important case law relied upon by the parties:
CIT Vs. Cactus Imaging India Pvt. Ltd.
CIT Vs. Bses Yamuna Power Ltd.
In the instant case, the appeal was filed by the assessee against the order of Commissioner of Income Tax (Appeals) wherein he upheld the rate of depreciation on printers being allowed at the rate of 15% as against 60% claimed by the assessee.
Earlier, during the assessment proceedings, the Assessing Officer (AO) had allowed the depreciation on printers at the rate of 15% as against the rate of 60% claimed by the assessee. This has resulted into substantial disallowances.
Aggrieved, the assessee had filed the instant appeal before the Tribunal.
The Tribunal noted that the issue was covered in favour of the assessee by a catena of decisions from Hon’ble High Courts. In these decisions, it was held that computer peripherals like printers are part of the computer system and hence entitled for depreciation at the rate of 60%.
Following the precedent, the Tribunal set aside the orders of the authorities below and decided the issue in favour of the assessee.
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