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2015 (1) TMI 515 - AT - Income TaxRevision u/s 263 - higher depreciation on hospital equipment - assessee in the present case is an educational society - Held that:- We uphold the impugned order of the learned Commissioner holding the orders of the Assessing Officer passed under S.143(3) read with S.153A of the Act for the years under consideration, to be erroneous and prejudicial to the interests of the Revenue on the issues of allowing higher depreciation on furniture as well as on the issue of allowing claim of the assessee for higher depreciation on hospital equipment and for unsecured loans without making proper and adequate enquiries. We however, set aside the impugned order of the learned Commissioner on the issue of corpus receipts by holding that he was not justified in treating the orders of the Assessing Officer in not bringing to tax the corpus receipts in the hands of the assessee as erroneous and prejudicial to the interests of the Revenue - Decided partly in favour of assessee for assessment years 2006-07 to 2010-11 whereas the appeals of the assessee for assessment years 2004-05 and 2005-06 are dismissed.
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