https://www.taxtmi.com/caselaws?id=272626 The High Court upheld the decisions of the lower authorities in favor of the assessee regarding the claim of depreciation on Wind Mills for the assessment years 2006-2007, 2008-2009, and 2009-2010. It affirmed that the assessee was entitled to claim depreciation under Section 32 of the Income Tax Act, 1961, despite not owning the Wind Mill asset, as supported by factual findings and rulings of the appellate bodies. The High Court dismissed the appeal, emphasizing the importance of ownership in depreciation claims and the conclusive nature of factual determinations by the tribunal. en-us Tue, 24 Oct 2017 00:00:00 +0530 Thu, 10 May 2018 05:55:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272626 The High Court upheld the decisions of the lower authorities in favor of the assessee regarding the claim of depreciation on Wind Mills for the assessment years 2006-2007, 2008-2009, and 2009-2010. It affirmed that the assessee was entitled to claim depreciation under Section 32 of the Income Tax Act, 1961, despite not owning the Wind Mill asset, as supported by factual findings and rulings of the appellate bodies. The High Court dismissed the appeal, emphasizing the importance of ownership in depreciation claims and the conclusive nature of factual determinations by the tribunal. Case-Laws Income Tax Tue, 24 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272626