ISPAT ALLOYS LTD. vs. DY.COMMNR.OF I.T.

The appeal is allowed in the above terms with no

Bench: The Assessing Officer (Ao) & Claimed Depreciation Allowance On The Increased Cost Of The Plant & Machinery Due To Exchange Fluctuations. The Ao In The Assessment Order Dated 31St March 1997 Rejected The Above Claim.

2 of 5 “Whether in the facts and circumstances of the case, Rs.2,54,875/- claimed towards depreciation by the Assessee is allowable under Section 43A of the Income Tax Act, 1961?” 3. The brief facts are that the Appellant-Assessee filed its return of income for the AY 1994-95. Pursuant to a notice issued under Sections 142

INDUSTRIAL INCUBATOR vs. DY.COMMNR.OF I.T.

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE ADITYA KUMAR MOHAPATRA