https://www.taxtmi.com/caselaws?id=252654 The Court ruled in favor of the assessee in a Tax Case (Appeal) concerning depreciation on windmills and unexplained cash credit additions under Section 68 of the Income Tax Act. The Court upheld the depreciation claim, stating that no separate intimation was required if the option was exercised correctly. Additionally, the Court supported the Tribunal's decision on unexplained cash credits, emphasizing the verification of documents and identities. The Court dismissed the Tax Case (Appeal) as lacking merit, concluding that the assessee was entitled to depreciation and had provided satisfactory documentation for the unexplained cash credits. en-us Mon, 27 Oct 2014 00:00:00 +0530 Thu, 14 May 2015 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252654 The Court ruled in favor of the assessee in a Tax Case (Appeal) concerning depreciation on windmills and unexplained cash credit additions under Section 68 of the Income Tax Act. The Court upheld the depreciation claim, stating that no separate intimation was required if the option was exercised correctly. Additionally, the Court supported the Tribunal's decision on unexplained cash credits, emphasizing the verification of documents and identities. The Court dismissed the Tax Case (Appeal) as lacking merit, concluding that the assessee was entitled to depreciation and had provided satisfactory documentation for the unexplained cash credits. Case-Laws Income Tax Mon, 27 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252654