2016 (9) TMI 1485 - HC - Income Tax

Classification of computer peripherals and accessories for the purpose of depreciation - whether P.O.S. terminal, is a computer or alternatively falls within the classification of computer peripherals and accessories ? - Held that - This court notices that for the relevant assessment year i.e. AY 2008-2009 even though the AO held that the equipment was neither computer nor it could be computer accessories, the CIT (A) overturned that decision and held that the assessee was entitled to 60% depreciation. The CIT (A) was of the opinion that the equipment was akin to a computer. That determination has been concurred to the ITAT. No substantial question of law.

Summary

The Delhi High Court dismissed the revenue's appeal regarding the classification of a P.O.S. terminal for depreciation purposes. The court upheld the decision that the terminal is akin to a computer, entitling the assessee to 60% depreciation for the assessment year 2008-2009.