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2014 (10) TMI 792 - HC - Income TaxClaim of depreciation @ 80% on installation of windmill – Satisfaction of requirement of second proviso to Rule 5(1A) of the Income Tax Rules or not – Held that:- Following the decision in CIT V. Vijaya Hirasa Kalamkar (HUF) [1992 (9) TMI 4 - BOMBAY High Court] - if the assessee exercised the option in terms of second proviso to Rule 5(1A) of the Income Tax Rules at the time of furnishing of return of income, it will suffice and no separate letter or request or intimation with regard to of exercise of option is required - Since the returns are filed in accordance with Section 139(1) of the Income Tax Act and the form prescribed therein make a provision for exercising an option in respect of the claim of depreciation, no separate procedure is required – Decided against revenue.
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