https://www.taxtmi.com/caselaws?id=63047 The Tribunal set aside the order of the CIT(A) and directed the Assessing Officer to allow the depreciation claim as per the rules. It held that the omission to claim depreciation was a mistake apparent from the record, rectifiable under section 154. The assessee's appeal was allowed, permitting the rectification and entitlement to depreciation under section 32. The Tribunal reconciled conflicting Supreme Court judgments, applying the principles of Anchor Pressings (P.) Ltd., establishing that rectification is permissible when all factual materials are on record, despite the initial omission. en-us Tue, 12 Oct 2004 00:00:00 +0530 Mon, 24 Jun 2024 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63047 The Tribunal set aside the order of the CIT(A) and directed the Assessing Officer to allow the depreciation claim as per the rules. It held that the omission to claim depreciation was a mistake apparent from the record, rectifiable under section 154. The assessee's appeal was allowed, permitting the rectification and entitlement to depreciation under section 32. The Tribunal reconciled conflicting Supreme Court judgments, applying the principles of Anchor Pressings (P.) Ltd., establishing that rectification is permissible when all factual materials are on record, despite the initial omission. Case-Laws Income Tax Tue, 12 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63047