https://www.taxtmi.com/caselaws?id=247734 The ITAT partly allowed the appeals for statistical purposes, directing the A.O. to consider the WDV at the beginning of A.Y. 2003-04 for depreciation purposes, adjust only capital grants specifically for asset creation from the actual cost capitalized during the year, and verify and allow depreciation in accordance with the law. The reopening of the assessment for A.Y. 2003-04 was upheld to determine allowable depreciation, aligning with the decision for A.Y. 2004-05, with a caution that this order should not be considered a precedent for other cases. en-us Fri, 09 May 2014 00:00:00 +0530 Sat, 05 Mar 2016 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247734 The ITAT partly allowed the appeals for statistical purposes, directing the A.O. to consider the WDV at the beginning of A.Y. 2003-04 for depreciation purposes, adjust only capital grants specifically for asset creation from the actual cost capitalized during the year, and verify and allow depreciation in accordance with the law. The reopening of the assessment for A.Y. 2003-04 was upheld to determine allowable depreciation, aligning with the decision for A.Y. 2004-05, with a caution that this order should not be considered a precedent for other cases. Case-Laws Income Tax Fri, 09 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247734