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2014 (12) TMI 182 - HC - Income TaxClaim of depreciation on installation of windmill – Claim contrary to Rule 5(1A) of the Income Tax Rules and Appendix 1A or not - Held that:- Following the decision in CIT V. Vijaya Hirasa Kalamkar (HUF), [1992 (9) TMI 4 - BOMBAY High Court] wherein it has been held that if the assessee exercised 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 make a provision for exercising an option in respect of the claim of depreciation, no separate procedure is required, as contended by the Department – Decided against revenue.
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