https://www.taxtmi.com/caselaws?id=379612 The Tribunal upheld the Commissioner's order under section 263 of the Income Tax Act, finding the initial assessment erroneous and prejudicial to revenue's interest due to the inadmissible additional depreciation granted. The Tribunal emphasized the necessity of a detailed examination of the assessee's manufacturing or production activities to ascertain eligibility for additional depreciation under section 32(1)(iia), directing the Assessing Officer to independently evaluate the processes disregarding the Commissioner's findings. The appeal was dismissed, stressing the Assessing Officer's duty to conduct a thorough assessment based on the specific circumstances of the case. en-us Thu, 02 May 2019 00:00:00 +0530 Sat, 04 May 2019 15:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379612 The Tribunal upheld the Commissioner's order under section 263 of the Income Tax Act, finding the initial assessment erroneous and prejudicial to revenue's interest due to the inadmissible additional depreciation granted. The Tribunal emphasized the necessity of a detailed examination of the assessee's manufacturing or production activities to ascertain eligibility for additional depreciation under section 32(1)(iia), directing the Assessing Officer to independently evaluate the processes disregarding the Commissioner's findings. The appeal was dismissed, stressing the Assessing Officer's duty to conduct a thorough assessment based on the specific circumstances of the case. Case-Laws Income Tax Thu, 02 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379612