https://www.taxtmi.com/caselaws?id=390402 The Tribunal upheld the Principal Commissioner of Income Tax's decision to set aside the assessment order due to errors in allowing the assessee's claim of 100% depreciation on Ground Power Unit (GPU) and Pre-Conditioned Air Unit (PCA) as air pollution control equipment. The Tribunal found that the Assessing Officer did not conduct proper inquiries and verification before allowing the claim. Additionally, the Tribunal agreed with the Principal Commissioner that the finance costs attributable to the period before the commencement of business were not adequately examined by the Assessing Officer, leading to an erroneous assessment order. The appeal of the assessee was dismissed. en-us Mon, 30 Dec 2019 00:00:00 +0530 Wed, 01 Jan 2020 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390402 The Tribunal upheld the Principal Commissioner of Income Tax's decision to set aside the assessment order due to errors in allowing the assessee's claim of 100% depreciation on Ground Power Unit (GPU) and Pre-Conditioned Air Unit (PCA) as air pollution control equipment. The Tribunal found that the Assessing Officer did not conduct proper inquiries and verification before allowing the claim. Additionally, the Tribunal agreed with the Principal Commissioner that the finance costs attributable to the period before the commencement of business were not adequately examined by the Assessing Officer, leading to an erroneous assessment order. The appeal of the assessee was dismissed. Case-Laws Income Tax Mon, 30 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390402