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2020 (3) TMI 1432 - AT - Income TaxAdditional depreciation deduction qua the fixed assets not put to use in the relevant previous year but in earlier assessment years only - HELD THAT:- We find no merit in Revenue’s foregoing argument in light of hon’ble Madras high court’s decision in M/s Brakes India Limited [2017 (4) TMI 511 - MADRAS HIGH COURT] has already reversed tribunal’s coordinate bench’s order [2016 (8) TMI 745 - ITAT CHENNAI] accepting the Revenue’s stand. Their lordships held that not only the impugned depreciation relief is admissible in case of fixed assets installed and put to use in the relevant previous year but also qua those which already form part of the corresponding block of assets and installed in earlier assessment years. We thus rely hon’ble high court’s reasoning mutatis mutandis and accept the assessee’s additional depreciation claim on merits. AO is directed to delete the impugned disallowance. - Decided in favour of assessee.
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