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2011 (10) TMI 28 - BOMBAY HIGH COURTWhether the Income Tax Appellate Tribunal was right in law in confirming the addition of Rs.3,18,24,076/on account of depreciation disallowed and on account of late payment of providend fund of Rs. 7,53,103/made during the year? - though the assessee initially claimed depreciation of Rs. 4,31,96,085/, the assessee admitted during the course of survey that the computer software and hardware has not been purchased by the assessee and the assessee itself filed revised return wherein the claim towards depreciation amounting to Rs.3,18,24,076/was withdrawn and the said amount was offered to tax. Although the assessee has filed an affidavit retracting the statement recorded during the course of survey, there is no material on record to show that the computer software and computer hardware to the extent of Rs.3.18 crores were actually purchased by the assessee. - Decided in favor of assessee.
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