https://www.taxtmi.com/caselaws?id=414658 The court ruled in favor of the Revenue, upholding the ITAT's decision to restrict depreciation rates to 25% for machinery and equipment and 10% for infrastructure like approach roads in aquaculture activities. The Assessee's appeal for higher depreciation rates was dismissed due to the lack of evidence supporting the claims, emphasizing the importance of providing clear documentation to justify depreciation rates and comply with tax rules. en-us Wed, 10 Nov 2021 00:00:00 +0530 Sat, 13 Nov 2021 20:30:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414658 The court ruled in favor of the Revenue, upholding the ITAT's decision to restrict depreciation rates to 25% for machinery and equipment and 10% for infrastructure like approach roads in aquaculture activities. The Assessee's appeal for higher depreciation rates was dismissed due to the lack of evidence supporting the claims, emphasizing the importance of providing clear documentation to justify depreciation rates and comply with tax rules. Case-Laws Income Tax Wed, 10 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414658