TMI Blog1987 (12) TMI 8X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the respondent proposing to rectify the two assessment orders for the reasons stated in the notices, annexures " C " and " D ". To these notices, the petitioner-assessee replied as per annexures " E " and " F ". The respondent, not agreeing with the replies, proceeded to rectify the assessment orders as per his orders, annexures " G " and " H ". Notices issued under section 37 of the Act indicate three mistakes relating to the assessment year 1976-77 and four mistakes relating to the assessment year 1977-78. Learned counsel for the petitioners concedes that so far as item 3 in the notice for the assessment year 1977-78, namely, " depreciation allowance claimed is allowed twice ", is concerned, he does not challenge the order. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot provided specifically in items (1) to (26)." There can be no argument on the question that a power tiller cannot be treated as a " tractor " and that the two are different. The allowance of depreciation treating the power tiller as a tractor was undoubtedly a mistake apparent on the face of the record. It was argued by Sri Ramabhadran, learned counsel. for the petitioner, that the power tiller can also be construed as a tractor, having regard to the use to which it is put for the purpose of allowing depreciation. The considerations for allowing depreciation under the Act depend upon the nature of the machinery, horse-power, etc., and not merely on the capability of its being used for similar purposes. Therefore, the order of rectifica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of expenditure in the manner provided in sub-clause (iii) in lieu of sub-clauses (i) and (ii) which provide the mode for claiming the expenses incurred. After exercising such an option, an assessee, during any year, can claim the expenses in the manner provided under the said provision. The only requirement for allowing the claim is that the said expenditure should have been incurred during the relevant year. However, the benefit of carry over for a period of 5 years is available to the assessee if the expenditure is not incurred during any year or years as provided under the said provision. The amount so set apart shall be treated as income of the year succeeding the fifth year, if it is not spent for the purpose for 5 years or is spent ..... X X X X Extracts X X X X X X X X Extracts X X X X
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