In the result, the appeal of the assessee is allowed
Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)
43D including depreciation under Section 32 of the Act as so laid down by the Hon’ble Supreme Court in case of Plastiblends India limited (supra) wherein it was held that there is no choice with the assessee to claim or not to claim depreciation and the same has to be necessary considered while computing the eligible profits