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<h1>Assessee's discretion on depreciation claim upheld by Bombay High Court</h1> The High Court of Bombay held that the assessee company has the discretion to claim or forgo depreciation, and the Income-tax Officer cannot grant ... Depreciation The High Court of Bombay delivered a judgment in a departmental reference case related to the assessment of an assessee company for the year 1972-73. The court ruled that the assessee has the option to claim or not claim depreciation, and the Income-tax Officer cannot allow depreciation without the necessary particulars. The decision was based on a previous judgment in favor of the assessee. No costs were awarded.
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