https://www.taxtmi.com/caselaws?id=70457 The Tribunal rejected the appellant's claim for higher depreciation at a rate of 15% for the assessment year, citing that the amendment specifying the higher rate was effective from a later date and not applicable retrospectively. However, the Tribunal ruled in favor of the appellant regarding the levy of interest under section 217(1)(a) of the Income-tax Act, 1961, deleting the interest charged by the Income Tax Officer as the appellant was not liable to file a statement under section 209A(1)(a) based on the circumstances of the case. en-us Tue, 25 Mar 1986 00:00:00 +0530 Sat, 16 Apr 2011 12:52:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70457 The Tribunal rejected the appellant's claim for higher depreciation at a rate of 15% for the assessment year, citing that the amendment specifying the higher rate was effective from a later date and not applicable retrospectively. However, the Tribunal ruled in favor of the appellant regarding the levy of interest under section 217(1)(a) of the Income-tax Act, 1961, deleting the interest charged by the Income Tax Officer as the appellant was not liable to file a statement under section 209A(1)(a) based on the circumstances of the case. Case-Laws Income Tax Tue, 25 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70457