https://www.taxtmi.com/caselaws?id=219481 The High Court of Bombay ruled that the assessing officer was not justified in thrusting depreciation upon the assessee while calculating the deduction under Section 80IA of the Income Tax Act, 1961 using powers under Section 154. The Court held that since the assessee had not claimed depreciation in computing business income, the assessing officer's decision was not valid. The Court referred to relevant precedents and emphasized the importance of a valid basis for invoking Section 154. Consequently, the Court upheld the ITAT decision, dismissing the appeal in favor of the assessee with no order as to costs. en-us Mon, 19 Nov 2012 00:00:00 +0530 Sat, 15 Dec 2012 09:21:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219481 The High Court of Bombay ruled that the assessing officer was not justified in thrusting depreciation upon the assessee while calculating the deduction under Section 80IA of the Income Tax Act, 1961 using powers under Section 154. The Court held that since the assessee had not claimed depreciation in computing business income, the assessing officer's decision was not valid. The Court referred to relevant precedents and emphasized the importance of a valid basis for invoking Section 154. Consequently, the Court upheld the ITAT decision, dismissing the appeal in favor of the assessee with no order as to costs. Case-Laws Income Tax Mon, 19 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219481