2020 (3) TMI 1432

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..... COURT] has already reversed tribunal s coordinate bench s order [ 2016 (8) TMI 745 - ITAT CHENNAI] accepting the Revenue s stand. Their lordships held that not only the impugned depreciation relief is admissible in case of fixed assets installed and put to use in the relevant previous year but also qua those which already form part of the corresponding block of assets and installed in earlie .....

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..... rties. Case file perused. 2. Apart from assessee s identical legal ground challenging validity of the impugned rectification proceedings take recourse by the learned lower authorities u/s 154 of the Act that these cases do not evolve any apparent error at the face of the assessment(s), learned counsel clarifies that the second identical issue on merits seeks to reverse 32(1)(iia) additional dep .....

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..... ir lordships held that not only the impugned depreciation relief is admissible in case of fixed assets installed and put to use in the relevant previous year but also qua those which already form part of the corresponding block of assets and installed in earlier assessment years. We thus rely hon ble high court s reasoning mutatis mutandis and accept the assessee s additional depreciation claim on .....

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