https://www.taxtmi.com/caselaws?id=287225 The Tribunal allowed the assessee's appeal against the disallowance of depreciation under section 43(1), confirming the benefit of deduction under section 80IC on enhanced profits. The Tribunal admitted additional grounds based on the Supreme Court precedent and a previous ITAT order, emphasizing the revenue-neutral nature of the depreciation claim and the eligibility for statutory deductions on increased profits, including clarifying the treatment of excise duty refunds in cost computations. The decision aligned with the earlier order's findings, resulting in a favorable outcome for the assessee. en-us Wed, 28 Nov 2018 00:00:00 +0530 Sat, 04 Apr 2020 09:54:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287225 The Tribunal allowed the assessee's appeal against the disallowance of depreciation under section 43(1), confirming the benefit of deduction under section 80IC on enhanced profits. The Tribunal admitted additional grounds based on the Supreme Court precedent and a previous ITAT order, emphasizing the revenue-neutral nature of the depreciation claim and the eligibility for statutory deductions on increased profits, including clarifying the treatment of excise duty refunds in cost computations. The decision aligned with the earlier order's findings, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Wed, 28 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287225