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TMI Blog2011 (6) TMI 924X X X X Extracts X X X X X X X X Extracts X X X X ..... Yahya (Accountant Member) This appeal filed by the assessee is directed against the order u/s 263 of the I.T.Act of Ld.CIT, Delhi IV dated 30.9.2010 and pertains to A.Y. 2006-07. 2. In this case Ld.CIT noted that on examination of income tax assessment records of the assessee for A.Y. 2006-07 it transpired that assessee classified software under computers and claimed depreciation @ 60%. Ld.CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder without establishing as to how allowing depreciation on computer software @ 60% which is in accordance with the clear provisions of law makes the order erroneous and prejudicial to the interests of the revenue. It has further been contended that the ld.CIT has also not appreciated the fact that the profits of the undertakings of the assessee were eligible for deduction u/s 10A of the Income T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... software items has been disclosed as ORA401CA.OFO.V9.264 bit software. We find ourselves in agreement with the contention of the assessee that 60% rate of depreciation has been prescribed in the Act itself on computer software, hence allowing such a depreciation which is in accordance with the law can not make the AO's order erroneous and prejudicial to the interest of Revenue. 6. We further fin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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