https://www.taxtmi.com/caselaws?id=206325 The Tribunal allowed the assessee's appeals for the assessment years 2004-05 and 2005-06 regarding the depreciation claims. The Tribunal emphasized the requirement for the Assessing Officer to determine the actual cost of assets based on sufficient evidence and material. The issues concerning interest under sections 234B and 234C were deemed consequential, and the challenge against the initiation of penalty under section 271(1)(c) was dismissed. The Tribunal's decision favored the assessee, highlighting the importance of proper evidence in determining actual asset costs. en-us Mon, 26 Oct 2009 00:00:00 +0530 Tue, 11 Jun 2013 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206325 The Tribunal allowed the assessee's appeals for the assessment years 2004-05 and 2005-06 regarding the depreciation claims. The Tribunal emphasized the requirement for the Assessing Officer to determine the actual cost of assets based on sufficient evidence and material. The issues concerning interest under sections 234B and 234C were deemed consequential, and the challenge against the initiation of penalty under section 271(1)(c) was dismissed. The Tribunal's decision favored the assessee, highlighting the importance of proper evidence in determining actual asset costs. Case-Laws Income Tax Mon, 26 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206325