https://www.taxtmi.com/caselaws?id=330112 The Court upheld the Tribunal's decision to allow depreciation under Section 11 of the Income Tax Act, finding no double claim of capital expenditure. The 2012 amendment was deemed prospective from 01.04.2015, as clarified by legislative history and tax authorities. Consequently, the appeal was dismissed, ruling in favor of the assessee and against the Revenue. en-us Thu, 16 Jun 2016 00:00:00 +0530 Sat, 16 Jul 2016 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330112 The Court upheld the Tribunal's decision to allow depreciation under Section 11 of the Income Tax Act, finding no double claim of capital expenditure. The 2012 amendment was deemed prospective from 01.04.2015, as clarified by legislative history and tax authorities. Consequently, the appeal was dismissed, ruling in favor of the assessee and against the Revenue. Case-Laws Income Tax Thu, 16 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330112