Appeal Dismissed: Assessee's Right to Additional Depreciation Confirmed, Form 3AA Submission Deemed Sufficient.

The Bombay HC dismissed the appeal, affirming the assessee's entitlement to additional depreciation. The submission of Form 3AA during assessment proceedings was deemed sufficient to qualify for the additional depreciation benefit. The court upheld that procedural compliance during the assessment was adequate for the claim, thus ruling in favor of the assessee.

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The Bombay High Court dismissed the appeal regarding additional depreciation claimed by the assessee as Form 3AA was submitted during assessment proceedings, entitling the assessee to additional depreciation. Citation: 2011 (6) TMI 1042 - BOMBAY HIGH COURT.

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