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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.
1) and 143 (2) of the Income Tax Act, 1961 (Act), the Assessee appeared before the Assessing Officer (AO) and claimed depreciation allowance on the increased cost of the plant and machinery due to exchange fluctuations. The AO in the assessment order dated 31st March 1997 rejected the above claim. 4. In appeal, the Commissioner of Income Tax (Appeals