https://www.taxtmi.com/caselaws?id=62500 The Tribunal upheld the Commissioner of Income Tax's decision to set aside the Assessing Officer's order allowing excess depreciation on assets used for less than 180 days during the assessment year. The Tribunal found that the Assessing Officer's error in allowing 100% depreciation without proper substantiation was prejudicial to the Revenue. Despite the assessee filing a revised return withdrawing the excess claim, the Tribunal determined that the conditions for invoking section 263 were met, leading to the dismissal of the appeal and a direction for a fresh assessment with the opportunity for the assessee to rectify the excess depreciation claim. en-us Tue, 17 Feb 2004 00:00:00 +0530 Thu, 20 Jan 2011 11:15:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62500 The Tribunal upheld the Commissioner of Income Tax's decision to set aside the Assessing Officer's order allowing excess depreciation on assets used for less than 180 days during the assessment year. The Tribunal found that the Assessing Officer's error in allowing 100% depreciation without proper substantiation was prejudicial to the Revenue. Despite the assessee filing a revised return withdrawing the excess claim, the Tribunal determined that the conditions for invoking section 263 were met, leading to the dismissal of the appeal and a direction for a fresh assessment with the opportunity for the assessee to rectify the excess depreciation claim. Case-Laws Income Tax Tue, 17 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62500