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2011 (12) TMI 282 - AT - Income TaxAssessee manufacturing TV/AC - Depreciation claimed @40 on plastic moulds - CIT: assessee not in business of of rubber & plastics thus depreciation to be claimed @25 percent and issued notice under 263 - Held That:- Assessee manufactured plastic and rubber goods and were used in manufacture of TV/AC. In view of Malabar Industrial Co. Ltd. (2000 - TMI - 5786 - SUPREME Court), order set aside. Further when two views are possible and AO adopted one view for which the Commissioner does not agree, it cannot be treated as erroneous or prejudicial to the interests of the revenue.
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