ASSTT. COMMISSIONER OF INCOME TAX, BAREILLY vs. M/S L.H SUGAR FACTORY PVT. LTD.,, PILIBHIT

In the result, the appeals of the Revenue are dismissed whereas the appeal of the assessee is partly allowed and partly allowed for statistical purposes

Bench: Shri A. D. Jain & Shri T. S. Kapoor

32(1)(iia) of the Act, Learned A. R. submitted that assessee was entitled to additional depreciation as during earlier year the assessee was allowed only 50% of additional depreciation and balance 50% was to be allowed by Assessing Officer during the present year and which the Assessing Officer had not taken into consideration while calculating the taxable profits