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2015 (10) TMI 314 - AT - Income TaxDepreciation on energy saving devices - CIT(A)reversed the order of the AO on this issue and allowed the claim of assessee for depreciation @ 80% - Held that:- The issue involved in the appeal of revenue is squarely covered in favour of assessee by the decision of the coordinate bench of this Tribunal in assessee’s own case for AY 2004-05 and 2009-10 [2014 (11) TMI 407 - ITAT HYDERABAD ] wherein held The meaning of the term ‘before due date’ shall be understood as it is understood by a man of ordinary prudence - Before due date simply refers and means that not after the expiry of due date - If the requisite act is done before the last day expires then it will simply be said that before due date - When the time of filing the return is available to the assessee till the last moment of the due date then the whole of that day is available to the assessee and due date expires only when the last day is expired - the option exercised on the due date is nothing but before the due date as the same is not after the due date – revenue is not consistent with regard to assessee’s claim of depreciation - Be that as it may, as depreciation claimed by assessee is in terms with the statutory provisions, AO was not justified in interfering with the same. Assessee having exercised its option in terms of second proviso to Rule 5(1A), AO is duty bound to allow assessee’s claim of depreciation– thus, the order of the CIT(A) is upheld – Decided against revenue.
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