https://www.taxtmi.com/caselaws?id=405323 The Tribunal upheld the Revenue's appeal, overturning the CIT(A)'s decision to allow higher depreciation claimed by the assessee on boilers. The Tribunal found that the assessee failed to provide adequate evidence to support the claim for 80% depreciation on high-efficiency boilers. The CIT(A)'s acceptance of additional evidence without proper verification procedures was deemed improper. Consequently, the Tribunal reinstated the Assessing Officer's disallowance of Rs. 4,54,45,709/-, ruling in favor of the Revenue. en-us Thu, 28 Jan 2021 00:00:00 +0530 Thu, 18 Mar 2021 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405323 The Tribunal upheld the Revenue's appeal, overturning the CIT(A)'s decision to allow higher depreciation claimed by the assessee on boilers. The Tribunal found that the assessee failed to provide adequate evidence to support the claim for 80% depreciation on high-efficiency boilers. The CIT(A)'s acceptance of additional evidence without proper verification procedures was deemed improper. Consequently, the Tribunal reinstated the Assessing Officer's disallowance of Rs. 4,54,45,709/-, ruling in favor of the Revenue. Case-Laws Income Tax Thu, 28 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405323