Reassessment under s.148A held valid; s.69 additions totaling Rs.7,00,000 deleted after acceptable contemporaneous explanations for property investmen...
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CIT(A) rightly observed that mere quantification and...
CIT(A) confirms asset classification doesn't block depreciation claims; assets in use since 2008 verified by South Central Railways.
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Income TaxFebruary 25, 2019Case LawsAT
CIT(A) rightly observed that mere quantification and classification in accounts cannot deter assessee from claiming depreciation when factually the assets has been put to use since 2008, as per the account statement rendered by South Central Railways.
CIT(A) rightly observed that mere quantification and classification in accounts cannot deter assessee from claiming depreciation when factually the assets has been put to use since 2008, as per the account statement rendered by South Central Railways.
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