2010 (11) TMI 115 - HC - Income Tax

Depreciation rate -The rate of depreciation of 60 per cent is available to computers - the communication equipment are not computers - Appeal is dismissed in favour of assessee - not entitled for higher rate of depreciation.

Summary

The Kerala High Court dismissed the appeal filed by the appellant-bank regarding higher depreciation claim on EPABX and mobile phones, as they are not considered computers eligible for 60% depreciation. The Tribunal also confirmed disallowance of prior period expenditure due to lack of evidence. The appeal was rejected, and no substantial question of law was found.