TMI Blog2016 (11) TMI 894X X X X Extracts X X X X X X X X Extracts X X X X ..... 2009-2010, is above ₹ 40,00,000/- (Rupees forty lakhs only). If that is so, the bar to the entitlement for depreciation under Section 44A(2) of the Act will not apply. Grant of depreciation under Section 32 of the Act would, therefore, become mandatory. The above facts have been over looked by the High Court in holding that Section 44AD is applicable to the case of the appellant-assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (C) No.15210/2014) CIVIL APPEAL NO(S).8741 OF 2016 (Arising out of SLP(C) No.15352/2014) CIVIL APPEAL NO(S).8742 OF 2016 (Arising out of SLP(C) No.15447/2014) CIVIL APPEAL NO(S).8743 OF 2016 (Arising out of SLP(C) No.2720/2016) CIVIL APPEAL NO(S).8744 OF 2016 (Arising out of SLP(C) No.22533/2014) ORDER C.A. No.....@ SLP(C) No.27718/2014 Leave granted. Admittedly, the proviso to Sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is concerned. The appeal is disposed of in the above terms. C.A. Nos.....@ SLP(C)...CC No. 10169/2014, SLP(C) Nos. 14325/2014, 15210/2014, 15352/2014, 15447/2014, 2720/2016 and 22533/2014 Delay condoned. Leave granted. The order passed in Civil Appeal arising out of SLP(C) No.27718 of 2014 shall govern these cases also. However, if on verification, it is found that the income of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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