https://www.taxtmi.com/caselaws?id=428567 The Ld.CIT(A) upheld the assessee's claim and deleted the disallowance of additional depreciation made by the Assessing Officer under Section 154 for AY 2012-13. Emphasizing a liberal interpretation of beneficial legislation, the decision favored the assessee, allowing the balance of additional depreciation to be claimed in the succeeding year. It was ruled that Section 154 cannot be used to deny additional depreciation, as it is an incentive provision to promote industrialization. The appeal of the Revenue was dismissed, affirming the decision of the Ld.CIT(A). en-us Fri, 30 Sep 2022 00:00:00 +0530 Tue, 04 Oct 2022 08:52:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428567 The Ld.CIT(A) upheld the assessee's claim and deleted the disallowance of additional depreciation made by the Assessing Officer under Section 154 for AY 2012-13. Emphasizing a liberal interpretation of beneficial legislation, the decision favored the assessee, allowing the balance of additional depreciation to be claimed in the succeeding year. It was ruled that Section 154 cannot be used to deny additional depreciation, as it is an incentive provision to promote industrialization. The appeal of the Revenue was dismissed, affirming the decision of the Ld.CIT(A). Case-Laws Income Tax Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428567