Disallowance of Depreciation on Software can’t be made: ITAT grants relief to Wipro [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while directing the AO to delete the disallowance held that disallowance of depreciation on Software can not be made under section 40(a)(ia) of the Income Tax Act. The assessee, Wipro Pvt. Ltd. purchased software locally as well as from abroad for its own use. The assessee capitalized […]

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