https://www.taxtmi.com/caselaws?id=68840 The Tribunal held that the assessee was entitled to claim full depreciation despite the condition imposed by the Income-tax Officer (ITO) limiting it to 3/12 instead of 12/12 for the assessment year 1985-86. The Tribunal emphasized that depreciation is allowable at the prescribed rate under the Income-tax Act, and invalid conditions imposed by the ITO can be challenged. The doctrine of estoppel was not applicable in this case, as parties cannot contract out of the statute. The Tribunal dismissed the Revenue's appeal, upholding the decision to grant full depreciation to the assessee. en-us Thu, 05 Dec 1991 00:00:00 +0530 Fri, 20 Jan 2012 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68840 The Tribunal held that the assessee was entitled to claim full depreciation despite the condition imposed by the Income-tax Officer (ITO) limiting it to 3/12 instead of 12/12 for the assessment year 1985-86. The Tribunal emphasized that depreciation is allowable at the prescribed rate under the Income-tax Act, and invalid conditions imposed by the ITO can be challenged. The doctrine of estoppel was not applicable in this case, as parties cannot contract out of the statute. The Tribunal dismissed the Revenue's appeal, upholding the decision to grant full depreciation to the assessee. Case-Laws Income Tax Thu, 05 Dec 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68840