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.

depreciation by the Assessee is allowable under Section 43A of the Income Tax Act, 1961?” 3. The brief facts are that