Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2002 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2002 (10) TMI 68 - HC - Income Tax"Whether, Tribunal is correct in law in upholding the order of the Commissioner (Appeals) holding that the depreciation should not be allowed to the assessee since he has specifically withdrawn the claim for depreciation by filing revised return?" - For the assessment year 1988-89, no depreciation was required to be allowed if the same had not been claimed. If a claim made in the original return had been given up in the revised return, there was no obligation to consider the claim for depreciation. The Tribunal was therefore right in upholding the order of the Commissioner who had held that the depreciation need not be allowed to the assessee as the assessee had specifically withdrawn the claim made earlier by filing a revised return. - The question is therefore answered against the Revenue.
|