High Court Of Kerala
Federal Bank Ltd. Vs. ACIT
C.N. Ramachandran Nair And B.P. Ray, JJ.
IT Appeal No. 524 Of 2009
November  26, 2010
JUDGMENT
C.N. Ramachandran Nair, J. – Two questions are raised in the appeal filed by the appellant-bank. After hearing counsel for the appellant, and standing counsel for the respondent, and on going through the Tribunal’s order, we do not find any merit in the appeal because the first issue pertains to the appellant’s claim for higher depreciation of 60 per cent. on EPABX and mobile phones. The rate of depreciation of 60 per cent. is available to computers and we do not find any ground to treat the communication equipment as computers. In our view, the Tribunal rightly held that these equipment are not computers entitling the assessee for depreciation at 60 per cent. So much so, this appeal on this issue is rejected. So far as the second issue of prior period expenditure is concerned, disallowance is confirmed by the Tribunal for want of evidence. We do not find any substantial question of law arising on this issue.
2. Consequently appeal is dismissed.
[Citation : 332 ITR 319]
