https://www.taxtmi.com/caselaws?id=252658 The Court ruled in favor of the assessee in a Tax Case (Appeal) concerning the claim of depreciation on windmills. The Court held that if the assessee had exercised the option in accordance with the second proviso to Rule 5(1A) at the time of filing the return of income, no separate intimation was required. The decision was based on a precedent from the Bombay High Court. As a result, the substantial questions of law raised by the Revenue were resolved in favor of the assessee, leading to the dismissal of the appeal with no costs incurred. en-us Mon, 27 Oct 2014 00:00:00 +0530 Thu, 30 Oct 2014 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252658 The Court ruled in favor of the assessee in a Tax Case (Appeal) concerning the claim of depreciation on windmills. The Court held that if the assessee had exercised the option in accordance with the second proviso to Rule 5(1A) at the time of filing the return of income, no separate intimation was required. The decision was based on a precedent from the Bombay High Court. As a result, the substantial questions of law raised by the Revenue were resolved in favor of the assessee, leading to the dismissal of the appeal with no costs incurred. Case-Laws Income Tax Mon, 27 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252658