https://www.taxtmi.com/caselaws?id=369462 The Tribunal affirmed the decision of the Ld.CIT(A) to delete the addition of Rs. 27,88,184/- made on account of incorrect depreciation claimed by the assessee. The Tribunal found the depreciation claim valid, even though it was not reflected in the balance sheet, as the assets were used for business purposes. The Tribunal held that the depreciation could be claimed in the income tax return, confirming the legitimacy of the assessee's claim and dismissing the Revenue's appeal. en-us Wed, 24 Oct 2018 00:00:00 +0530 Sat, 27 Oct 2018 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369462 The Tribunal affirmed the decision of the Ld.CIT(A) to delete the addition of Rs. 27,88,184/- made on account of incorrect depreciation claimed by the assessee. The Tribunal found the depreciation claim valid, even though it was not reflected in the balance sheet, as the assets were used for business purposes. The Tribunal held that the depreciation could be claimed in the income tax return, confirming the legitimacy of the assessee's claim and dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 24 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369462