https://www.taxtmi.com/article/detailed?id=1091 Depreciation is presented as an elective taxpayer privilege requiring an express claim and supporting details for the Assessing Officer to allow it; Explanation 5 was inserted declaring the provision applies whether or not depreciation was claimed, prompting contested retrospective application by revenue authorities, practical difficulties in assessment and e filing, and litigation over whether the amendment improperly converts an optional benefit into an imposed allowance. en-us Thu, 13 Jan 2011 23:47:47 +0530 Thu, 13 Jan 2011 23:48:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1091 Depreciation is presented as an elective taxpayer privilege requiring an express claim and supporting details for the Assessing Officer to allow it; Explanation 5 was inserted declaring the provision applies whether or not depreciation was claimed, prompting contested retrospective application by revenue authorities, practical difficulties in assessment and e filing, and litigation over whether the amendment improperly converts an optional benefit into an imposed allowance. Articles Income Tax Thu, 13 Jan 2011 23:47:47 +0530 https://www.taxtmi.com/article/detailed?id=1091