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2012 (3) TMI 330 - ITAT DELHIDepreciation - Notification No. 890(E) dated 26.09.2000 - website development cost as 'software' instead allowing the deprecation treating it as an intangible asset - assessee claimed depreciation on website development expenses under the block of intangible assets - Assessing Officer observed that the expenditure incurred by the assessee on development of website was capital in nature - AR of the assessee submitted that as per old Appendix-I applicable for Assessment Years 2003-04 to 2005-06, intangible assets fall under Part-B and are eligible for depreciation @ 25%. In earlier Assessment Years i.e. upto Assessment Years 2001-02 to 2003-04 the Department has allowed depreciation - Website enables companies to do what the printed brochures did but, in a much more efficient manner as well as in a much shorter period of time and covering a much larger set of people worldwide - It would fall under the definition of intangible asset on which depreciation @ 25% is allowable - Appeal is dismissed
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