https://www.taxtmi.com/caselaws?id=71402 The Tribunal upheld the validity of the Commissioner's jurisdiction under section 263, ruling that the doctrine of merger did not preclude the Commissioner from revising the assessment order. Regarding the entitlement to claim depreciation on the increased rupee cost of foreign exchange loans used for purchasing ships, the Tribunal found that the assessee's claim fell within the provisions of section 43A of the Income-tax Act. The Tribunal allowed the assessee's appeal, granting depreciation on the increased liability and setting aside the Commissioner's order. en-us Mon, 27 Feb 1984 00:00:00 +0530 Sat, 23 Apr 2011 12:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71402 The Tribunal upheld the validity of the Commissioner's jurisdiction under section 263, ruling that the doctrine of merger did not preclude the Commissioner from revising the assessment order. Regarding the entitlement to claim depreciation on the increased rupee cost of foreign exchange loans used for purchasing ships, the Tribunal found that the assessee's claim fell within the provisions of section 43A of the Income-tax Act. The Tribunal allowed the assessee's appeal, granting depreciation on the increased liability and setting aside the Commissioner's order. Case-Laws Income Tax Mon, 27 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71402