TECHNOBLAST MINING CORPORATION,RAIGARH vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

In the result, appeal of the assessee stands dismissed, in terms of our observations herein above

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita No.133/Rpr/2022 िनधा"रण वष" /Assessment Year: 2017-18 V. Technoblast Mining Corporation Pcit (Central), 19, 2Nd Floor Krishna Complex, Raipur Chaitanya Nagar, Raigarh – 496 001

255/-. 6. The assessment records of the assessee were subsequently examined by the Learned PCIT and on perusal of the assessment records has revealed that the assessee had claimed and was allowed depreciation @30% on heavy vehicle (Hyva and Tipper) amounting to Rs.1,25,41,649/- (1,18,71,149 – 6,70,500), however, it was the Learned PCIT observed