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of <h1>Calcutta HC Upholds ITAT's Order: Allows 30% Depreciation, Dismissing Revenue's Appeal Under Sec 260A of Income Tax Act.</h1> <h3>COMMISSIONER OF INCOME TAX KOLKATA Versus M/s. BOTHRA SHIPPING SERVICES</h3> COMMISSIONER OF INCOME TAX KOLKATA Versus M/s. BOTHRA SHIPPING SERVICES - TMI The High Court of Calcutta dismissed the revenue's appeal under Section 260A of the Income Tax Act, 1961. The appeal was against the Income Tax Appellate Tribunal's order allowing depreciation at 30% instead of 15%. The Court upheld the Tribunal's decision, citing relevant judicial precedents. The appeal was dismissed, and the substantial question of law was answered against the revenue.
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