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2016 (8) TMI 955 - HC - Income TaxAdmissibility of depreciation - claiming deduction u/s.80IA - whether Tribunal was right in law in holding that depreciation though allowable but not claimed in the return for normal computation of income has to be allowed while computing the deductions under Chapter VI A of an industrial undertaking? - Held that:- The controversy raised in these appeals stands settled by a Division Bench judgment of this Court in the case of Sakun Polymers Ltd. v. Joint Commissioner of Incometax [2015 (1) TMI 484 - GUJARAT HIGH COURT ] wherein it has been held that depreciation is optional to the assessee and that once the assessee chooses not to claim it, the Assessing Officer cannot allow while computing the income. Revenue could not controvert the aforesaid submission nor could he point out any distinguishing feature which may warrant a different view - Decided in favour of assessee
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