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2019 (2) TMI 1364 - AT - Income TaxDenying appellant carry forward of unabsorbed depreciation - HELD THAT:- CIT(A) rightly observed that mere quantification and classification in accounts cannot deter assessee from claiming depreciation when factually the assets has been put to use since 2008, as per the account statement rendered by South Central Railways. The assessee has earned certain income of ₹ 8,20,74,197/- during the year which has rightly been brought to tax by the AO, as income from business and hence, depreciation ought to be allowed for the current year. The CIT(A) rightly directed the Assessing Officer to allow the quantum of depreciation. Thus, the order of the CIT(A) is reasoned order and there is no need to interfere with the same. Hence, appeal of the assessee as well as Revenue is dismissed.
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