2011 (12) TMI 608 - HC - Income Tax

Whether the computer peripherals like CD writer, Printer, Network Cables, switches, isolators etc. are entitled to depreciation @ 60% or depreciation at the normal rate applicable to plant and machinery - Held that - In view of the decision of this Court in CIT v. BSES Rajdhani Power Limited, 2010 (8) TMI 58 - DELHI HIGH COURT this question has to be decided against the Revenue and in favour of the assessee.

Summary

The Delhi High Court ruled that computer peripherals like CD writer, Printer, Network Cables, switches, isolators are entitled to depreciation at the normal rate applicable to plant and machinery, not at 60%. The Revenue's appeal was dismissed, and they were granted liberty to file an application under Section 254(2) of the Act before the tribunal.