2009 (3) TMI 628

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..... x return for the assessment year 2003-04 depicted the cost incurred towards the construction activity for a holiday resort by depicting the estimated cost thereof. It is apparent, that on the basis of the estimated cost, it was not possible for the Revenue to deter-mine the quantum of depreciation that had to be allowed to the respon-dent-assessee under section 32 of the Income-tax Act, 1961. The .....

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..... 8.   It is apparent from the order passed by the Income-tax Appellate Tri-bunal dated July 23, 2008, that the issue in hand, namely, depreciation on the expenses incurred by the respondent-assessee on the construction of its holiday resort could not have been determined on the basis of any rough estimate. In order to afford an opportunity to the respondent-asses-see to lead evidence, so as t .....

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