2014 (12) TMI 182

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..... he assessee exercised the option in terms of second proviso to Rule 5(1A) of the Income Tax Rules at the time of furnishing of return of income, it will suffice and no separate letter or request or intimation with regard to of exercise of option is required - Since the returns are filed in accordance with Section 139(1) of the Income Tax Act and the form prescribed make a provision for exercising .....

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..... Income Tax Rules, and they are entitled for depreciation on windmills as per Appendix I is valid? (ii) Whether under the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in granting depreciation at 80% on windmills, even though the proviso to section 32(1)(i) and Rule 5(1A) clearly stipulate that only rate of depreciation on the method as provided fo .....

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..... tion of windmill, which according to the Revenue is contrary to Rule 5(1A) of the Income Tax Rules and Appendix 1A. 3. The learned standing counsel appearing for the Revenue submits that the above said issue is covered by a decision of this Court dated 09.09.2014 made in T.C.(A) Nos.330 of 2013 etc. batch. 4. In the above said decision, this Court, following a decision of the Bombay High Cou .....

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