https://www.taxtmi.com/caselaws?id=236267 The High Court of Karnataka upheld the appellate authority's decision to withdraw depreciation claimed by the assessee. The court determined that the amendment to Section 32 of the Act, allowing depreciation even if not initially claimed, was prospective and did not apply to the relevant assessment year. As the assessee did not claim depreciation initially, the court ruled in their favor, dismissing the Revenue's appeal. en-us Mon, 01 Apr 2013 00:00:00 +0530 Wed, 21 Aug 2013 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236267 The High Court of Karnataka upheld the appellate authority's decision to withdraw depreciation claimed by the assessee. The court determined that the amendment to Section 32 of the Act, allowing depreciation even if not initially claimed, was prospective and did not apply to the relevant assessment year. As the assessee did not claim depreciation initially, the court ruled in their favor, dismissing the Revenue's appeal. Case-Laws Income Tax Mon, 01 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236267