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2016 (8) TMI 102 - HC - Income TaxBogus expenditure - allowance of depreciation - whether regular assessment require fresh investigation and finding although the fact remain that the purchase of plant and machinery was already established as bogus in the Block Assessment ? - Held that:- Regular assessment of the assessment year 2000-01 was completed under section 143(3), in which the aforesaid purchases of ₹ 3,14,47,344/- were not held to be bogus and depreciation of such purchase was allowed. In the assessment year 2001-02 depreciation has been claimed on the written down value and the learned Tribunal has allowed that. Mr.Nizamuddin was unable to point out any mistake on the part of the learned Tribunal in allowing the claim for depreciation. In that view of the matter, we are of the opinion that this appeal is wholly un-meritorious and the same is dismissed. The question formulated is based on incorrect assumption of facts.
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