https://www.taxtmi.com/caselaws?id=425445 The appeal was filed against the disallowance of depreciation on a power plant at written down value method instead of the claimed straight line method. The Commissioner changed the method of depreciation to WDV basis, leading to the appeal. The central issue was whether the appellant, running a captive power plant, was entitled to claim depreciation on a straight line method for the power plant. The Tribunal found no legal bar for a captive undertaking to claim depreciation on SLM basis. Given the consistent allowance of depreciation on SLM basis in the past and subsequent years, the Tribunal allowed the appeal of the assessee. en-us Tue, 12 Jul 2022 00:00:00 +0530 Fri, 22 Jul 2022 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425445 The appeal was filed against the disallowance of depreciation on a power plant at written down value method instead of the claimed straight line method. The Commissioner changed the method of depreciation to WDV basis, leading to the appeal. The central issue was whether the appellant, running a captive power plant, was entitled to claim depreciation on a straight line method for the power plant. The Tribunal found no legal bar for a captive undertaking to claim depreciation on SLM basis. Given the consistent allowance of depreciation on SLM basis in the past and subsequent years, the Tribunal allowed the appeal of the assessee. Case-Laws Income Tax Tue, 12 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425445