https://www.taxtmi.com/caselaws?id=179423 Estimated profit did not conclude the depreciation claim because the governing CBDT circular required depreciation to be computed separately. Following an earlier Tribunal view on the same issue, the lower orders were set aside and the matter was remitted for fresh computation after the assessee produced the necessary material and was given an opportunity of hearing. Depreciation was therefore to be worked out independently, with the assessing officer to decide afresh in accordance with law. en-us Fri, 28 Jun 2013 00:00:00 +0530 Tue, 15 Mar 2016 15:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179423 Estimated profit did not conclude the depreciation claim because the governing CBDT circular required depreciation to be computed separately. Following an earlier Tribunal view on the same issue, the lower orders were set aside and the matter was remitted for fresh computation after the assessee produced the necessary material and was given an opportunity of hearing. Depreciation was therefore to be worked out independently, with the assessing officer to decide afresh in accordance with law. Case-Laws Income Tax Fri, 28 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179423