M/S RAJASTHAN RAJYA VIDYUT PRASARAN NIGAM LTD.,VIDYUT BHAWAN, JAN PATH, JYOTI NAGAR, JAIPUR vs. DCIT, CIRCLE-6, , JAIPUR
In the result,the appeal of the assessee is partly allowed
ITA 261/JPR/2023[2015-16]Status: DisposedITAT Jaipur24 Aug 2023AY 2015-16
Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)
For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Shri James Kurian (CIT)
Section 115JSection 142(1)Section 147
depreciation does not amount to revaluation of asset. It is only a change in the allocation of the cost of asset to its useful life. Therefore, this amount cannot be added in computing the book profit.
As far as not allowing deduction of Rs.15,85,10,128/- on account of provision for bad & doubtful debt written back is concerned