JEETENDRA CHANDRAKANT NAYAK,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOM TAX(OSD), NAGPUR
In the result, the appeal filed by the assessee is allowed
ITA 368/NAG/2023[2015-2016]Status: DisposedITAT Nagpur27 Jun 2024AY 2015-2016
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri M.G.Moryani, AdvocateFor Respondent: Shri Rajat Singhai, Sr. DR
Section 143(3)Section 234ASection 250Section 54F
depreciation under section 32 of the Act and as a consequence to this decision the Legislature had to amend the provisions of section 32 with effect from 1-4-1997 by using the expression “owned wholly or partly”. Since no such words are expressively mentioned in Section 54F, in our considered view the word “own” in section 54F would include