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2016 (2) TMI 377 - AT - Income TaxDisallowance of deprecation on windmills on WDV Method - methodology of claim of deprecation - assessee claimed deprecation at 80% on written down value method instead of straight line method at 7.69% - Held that:- Since the assessee company claimed depreciation on straight line method for the assessment year 2009-2010 and cannot have different methodology of deprecation for the subsequent years. We rely on the decision in the case of CIT vs. Kikani Exports P. Ltd [2015 (2) TMI 680 - MADRAS HIGH COURT] where it was held that " All the second proviso to Rule 5(1A) states is that the assessee has to exercise option before the due date for furnishing return of income. If option is exercised after furnishing of return of income under sub-section (1) of Section 139, it is of no avail. Form ITR-6 gives methodology on which deprecation can be claimed. Statue did not provide for any other method to exercise option except through filing of return. To read something more into second proviso to Rule 5(1A), that an option should be exercised separately would make returns filed meaningless. Thus if assessee exercised option in terms of second proviso to Rule 5(1A) at 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. Further option once exercised will continue to all subsequent years, assessee is not required to exercise such option each and every year separately. Revenues appeal dismissed’’. We find the facts and circumstances of the present case are similar to the case decided by the Jurisdictional High Court and accordingly - Decided against assessee.
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