https://www.taxtmi.com/caselaws?id=5463 The dominant issue was the limitation period under s.154(7) of the Income-tax Act for a rectification application seeking allowance of depreciation at 10% on a factory building. The SC held that "from the date of the order sought to be amended" refers to the original assessment order sought to be rectified and the word "any" does not extend the starting point to a subsequent rectified order. On this construction, the rectification application was beyond time, so the otherwise undisputed entitlement to 10% depreciation could not be granted through s.154. The HC order was set aside and the Tribunal's rejection on limitation was restored; appeals allowed without costs. en-us Fri, 20 Jan 1995 00:00:00 +0530 Fri, 26 Dec 2025 10:19:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5463 The dominant issue was the limitation period under s.154(7) of the Income-tax Act for a rectification application seeking allowance of depreciation at 10% on a factory building. The SC held that "from the date of the order sought to be amended" refers to the original assessment order sought to be rectified and the word "any" does not extend the starting point to a subsequent rectified order. On this construction, the rectification application was beyond time, so the otherwise undisputed entitlement to 10% depreciation could not be granted through s.154. The HC order was set aside and the Tribunal's rejection on limitation was restored; appeals allowed without costs. Case-Laws Income Tax Fri, 20 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5463