https://www.taxtmi.com/caselaws?id=6683 The High Court held that the Appellate Tribunal erred in allowing a deduction based on the variance between depreciation under the Income-tax Act and the company's books. The court ruled against the assessee, awarding costs to the department. It was clarified that the Wealth-tax Officer can adjust depreciation claims if errors or omissions are demonstrated, but further depreciation cannot be claimed as a matter of right. en-us Wed, 01 Sep 1965 00:00:00 +0530 Sun, 01 Feb 2009 05:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6683 The High Court held that the Appellate Tribunal erred in allowing a deduction based on the variance between depreciation under the Income-tax Act and the company's books. The court ruled against the assessee, awarding costs to the department. It was clarified that the Wealth-tax Officer can adjust depreciation claims if errors or omissions are demonstrated, but further depreciation cannot be claimed as a matter of right. Case-Laws Wealth-tax Wed, 01 Sep 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6683