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2017 (11) TMI 1351 - AT - Income TaxDisallowance of excessive depreciation in respect of assets purchased from Deltron Ltd - Held that:- The issue involved in this appeal is found squarely covered in favour of the assessee by the decisions of Coordinate Benches, for the preceding assessment years 2008-09 Assessing Officer was not justified in invoking Explanation 3 to section 43(1) of the Act on the facts and circumstances of the case of the appellant company and therefore, appellant is entitled to claim of depreciation on the actual cost as incurred by the appellant on transfer of the electronic business on going concern basis from M/s. Deltron Ltd. to the appellant company. - Decided in favour of assessee.
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