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2015 (4) TMI 1287 - AT - Income TaxPenalty us 271(1)(c) - assessee company had claimed depreciation @ 100% on the crockery, cutlery, blankets, linen and dresses and @ 10% on furnishings and decorations - Bonafide claim - HELD THAT:- The issue whether the depreciation on crockery and cutlery is allowed 100% and 80% in case of blanket and linen is debatable. This claim of the assessee was accepted by the Assessing Officer in A.Y. 2007-08. The assessee’s claim is bonafide during the year under consideration but in A.Y. 2008-09, the assessee revised the depreciation claimed during the assessment proceedings. The assets had been disclosed by the assessee, therefore, no inaccurate particulars of income has been furnished. We, therefore, uphold the order of the ld. CIT(A). - Decided against revenue.
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