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2004 (3) TMI 43 - HC - Income Tax
Depreciation - the conclusions of the Commissioner in the order u/s 263 and of the Tribunal in the impugned order are set aside, the order of reassessment passed by the Assistant CIT pursuant to the order of the Commissioner and the notice of demand raised and the attachment made pursuant to the said order of reassessment are also set aside and the matter is remanded to the Tribunal to determine the W.D.V. of the machinery and plant purchased by the appellant from the OSEB, for the purpose of determination of the exact quantum of depreciation that will be admissible on the plant and machinery u/r 5, Appendix I, Part III(3)(iii)B(a) of the Rules