https://www.taxtmi.com/caselaws?id=253838 The appeal was dismissed in favor of the assessee, affirming their entitlement to claim depreciation on windmills for the assessment year 2005-2006. The Court held that the assessee met the requirements for depreciation under the Income Tax Rules, following the precedent set by a previous decision of the Bombay High Court. It was determined that no separate intimation was necessary if the option for depreciation was exercised while filing returns under Section 139(1) of the Income Tax Act. The questions of law raised by the Revenue were answered in favor of the assessee based on the interpretation of the relevant provisions. en-us Mon, 10 Nov 2014 00:00:00 +0530 Fri, 05 Dec 2014 12:49:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253838 The appeal was dismissed in favor of the assessee, affirming their entitlement to claim depreciation on windmills for the assessment year 2005-2006. The Court held that the assessee met the requirements for depreciation under the Income Tax Rules, following the precedent set by a previous decision of the Bombay High Court. It was determined that no separate intimation was necessary if the option for depreciation was exercised while filing returns under Section 139(1) of the Income Tax Act. The questions of law raised by the Revenue were answered in favor of the assessee based on the interpretation of the relevant provisions. Case-Laws Income Tax Mon, 10 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253838