https://www.taxtmi.com/caselaws?id=335236 The Court upheld the reduced valuation of the plants and equipments, affecting the depreciation claim. It emphasized the burden on the assessee to establish the correct market value of assets for depreciation claims. The Court declined to entertain the writ petition challenging the assessment order under Article 226, directing the petitioner to appeal before the Commissioner of Income Tax (Appeals) to present evidence. The judgment underscores the importance of following due process in tax disputes and exhausting available appellate remedies. en-us Tue, 15 Nov 2016 00:00:00 +0530 Mon, 28 Nov 2016 13:09:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335236 The Court upheld the reduced valuation of the plants and equipments, affecting the depreciation claim. It emphasized the burden on the assessee to establish the correct market value of assets for depreciation claims. The Court declined to entertain the writ petition challenging the assessment order under Article 226, directing the petitioner to appeal before the Commissioner of Income Tax (Appeals) to present evidence. The judgment underscores the importance of following due process in tax disputes and exhausting available appellate remedies. Case-Laws Income Tax Tue, 15 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335236