https://www.taxtmi.com/caselaws?id=299895 The Tribunal upheld the CIT(A)'s decision to treat the excise duty refund as a revenue receipt and not reduce the cost of plant and machinery for depreciation purposes. It directed the issue to be reconsidered by the Assessing Officer in line with Supreme Court precedent and other relevant case laws, emphasizing a thorough review of past depreciation claims and treatment of the excise duty refund. The appeals were allowed for statistical purposes, ensuring the assessee's right to a fair hearing. en-us Thu, 08 Aug 2019 00:00:00 +0530 Tue, 04 Jan 2022 07:22:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299895 The Tribunal upheld the CIT(A)'s decision to treat the excise duty refund as a revenue receipt and not reduce the cost of plant and machinery for depreciation purposes. It directed the issue to be reconsidered by the Assessing Officer in line with Supreme Court precedent and other relevant case laws, emphasizing a thorough review of past depreciation claims and treatment of the excise duty refund. The appeals were allowed for statistical purposes, ensuring the assessee's right to a fair hearing. Case-Laws Income Tax Thu, 08 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299895