Income Tax - Highlights / Catch Notes
Income Tax - Non-granting of deduction in respect of depreciation u/s.32...
Non-granting of deduction in respect of depreciation u/s.32 - correction in the ITR - the CIT(A)’s claim that the assessee the assessee has filed a revised return belatedly and hence not eligible to claim depreciation is factually not correct. The fact that depreciation is correctly fed in the “Part A - P&L" and also in the relevant clause of Tax Audit supports the contention that the depreciation is unintentionally omitted to be fed into while filing the ITR and that it is a clerical error. - Claim allowed - AT