https://www.taxtmi.com/caselaws?id=340752 The High Court allowed the appeal regarding jurisdiction under Section 263 of the Income Tax Act for Assessment Year 2004-05. The Court upheld the Tribunal's decision based on the Commissioner's powers under Section 263. The Tribunal's judgment favored the appellant's right to claim additional depreciation, aligning with previous decisions. The Court ruled in favor of the appellant's entitlement to claim additional depreciation during the specific assessment year, allowing the right to carry forward balance additional depreciation to the subsequent year. The appeal was allowed without costs, maintaining the Tribunal's decision on other issues. en-us Tue, 14 Mar 2017 00:00:00 +0530 Mon, 27 Mar 2017 07:44:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340752 The High Court allowed the appeal regarding jurisdiction under Section 263 of the Income Tax Act for Assessment Year 2004-05. The Court upheld the Tribunal's decision based on the Commissioner's powers under Section 263. The Tribunal's judgment favored the appellant's right to claim additional depreciation, aligning with previous decisions. The Court ruled in favor of the appellant's entitlement to claim additional depreciation during the specific assessment year, allowing the right to carry forward balance additional depreciation to the subsequent year. The appeal was allowed without costs, maintaining the Tribunal's decision on other issues. Case-Laws Income Tax Tue, 14 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340752