TMI Blog2014 (10) TMI 792X X X X Extracts X X X X X X X X Extracts X X X X ..... ercised 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 opt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in granting depreciation at 80% on windmills, even though the proviso to section 32(1)(i) and Rule 5(1A) clearly stipulate that only rate of depreciation on the method as provided for in Appendix I A will be relevant for power generating Machinery? iii) Whether under the facts and circumstances of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anding counsel appearing for the Revenue submits that the above-said issue is covered by a decision of this Court dated 09.09.2014 made in T.C.(A)Nos.330 of 2013 etc. batch. 4. In the above-said decision, this Court, following the decision of the Bombay High Court reported in 229 ITR 772 (CIT V. Vijaya Hirasa Kalamkar (HUF), held as follows: 20. A reading of the above-said decision of the B ..... X X X X Extracts X X X X X X X X Extracts X X X X
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