5 results for “depreciation”+ Section 43(5)clear
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The appeal stands dismissed
Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Bivas Pattanayak Date : 28Th July, 2022 Appearance : Mr. Soumen Bhattacharjee, Adv. ….For Appellant Mr. Dwip Raj Basu, Adv. …For Respondent The Court :- This Appeal By The Revenue Filed Under Section 260A Of The Income Tax Act, 1961 (The Act, For Brevity) Is Directed Against The Order Dated 1St June, 2016, Passed By The Income Tax Appellate Tribunal “C” Bench, Kolkata In Ita No. 620/Kol/2016 For The Assessment Year 2012-13. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration. I) Whether On The Facts & In The Circumstances Of The Case, The Learned Tribunal Erred In Law In Not Considering That Allowing Depreciation In Respect Of A Depreciable Asset For Which The Assessee
43,455/- is allowable expenditure against receipts of the assessee during the previous year. The assessing officer has allowed the claim made by the assessee while completing the assessment by order dated 30th June, 2014. The Commissioner of Income Tax (Exemption) [CIT(E)] exercised his power under Section 263 of the Act and issued show cause notice dated 28th October