https://www.taxtmi.com/caselaws?id=185820 The High Court upheld the decision of the ITAT, ruling that the assessing officer was not required to consider depreciation while computing the deduction under Section 80O of the Income Tax Act, 1961, when the assessee had not claimed depreciation. The Court found that the CIT was not justified in invoking jurisdiction under Section 263 as the assessing officer's decision was a possible view based on previous Tribunal decisions. The appeal was dismissed, and no costs were awarded. en-us Fri, 29 Oct 2010 00:00:00 +0530 Mon, 29 Aug 2016 17:41:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185820 The High Court upheld the decision of the ITAT, ruling that the assessing officer was not required to consider depreciation while computing the deduction under Section 80O of the Income Tax Act, 1961, when the assessee had not claimed depreciation. The Court found that the CIT was not justified in invoking jurisdiction under Section 263 as the assessing officer's decision was a possible view based on previous Tribunal decisions. The appeal was dismissed, and no costs were awarded. Case-Laws Income Tax Fri, 29 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185820