https://www.taxtmi.com/caselaws?id=212712 The case involved a dispute over the claim of depreciation on ponds and plant & machinery for assessment years 2001-02 to 2004-05. The Assessing Officer disallowed depreciation due to non-use, leading to reassessment under section 147 of the IT Act. The CIT(A) ruled in favor of the assessee, directing allowance of depreciation based on judicial interpretations and relevant provisions. The Tribunal upheld this decision, emphasizing depreciation allowance for assets within a block. The outcome favored the assessee, allowing depreciation on assets forming part of the block, in line with the Income Tax Act and judicial precedents. en-us Fri, 30 Mar 2012 00:00:00 +0530 Wed, 20 Apr 2016 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212712 The case involved a dispute over the claim of depreciation on ponds and plant & machinery for assessment years 2001-02 to 2004-05. The Assessing Officer disallowed depreciation due to non-use, leading to reassessment under section 147 of the IT Act. The CIT(A) ruled in favor of the assessee, directing allowance of depreciation based on judicial interpretations and relevant provisions. The Tribunal upheld this decision, emphasizing depreciation allowance for assets within a block. The outcome favored the assessee, allowing depreciation on assets forming part of the block, in line with the Income Tax Act and judicial precedents. Case-Laws Income Tax Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212712