https://www.taxtmi.com/caselaws?id=15625 The High Court upheld the Tribunal's decision to withdraw depreciation on assets for the assessment years 1978-79 and 1979-80, as the assessee had not claimed depreciation or provided required details. The Court found that the Assessing Officer was not justified in allowing depreciation without the necessary particulars. Consequently, the computation of capital gain/loss on the sale of assets for 1979-80 had to consider the original cost or written down value after withdrawing depreciation, a decision also upheld by the Court. The judgment favored the assessee, emphasizing the importance of claiming depreciation and providing requisite details under the Income-tax Act. en-us Thu, 08 Jul 1999 00:00:00 +0530 Wed, 26 Aug 2009 13:52:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15625 The High Court upheld the Tribunal's decision to withdraw depreciation on assets for the assessment years 1978-79 and 1979-80, as the assessee had not claimed depreciation or provided required details. The Court found that the Assessing Officer was not justified in allowing depreciation without the necessary particulars. Consequently, the computation of capital gain/loss on the sale of assets for 1979-80 had to consider the original cost or written down value after withdrawing depreciation, a decision also upheld by the Court. The judgment favored the assessee, emphasizing the importance of claiming depreciation and providing requisite details under the Income-tax Act. Case-Laws Income Tax Thu, 08 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15625