https://www.taxtmi.com/caselaws?id=469203 The article addresses whether depreciation can be claimed on project assets and set off against interest income despite capitalisation in the books. It notes that book treatment alone does not defeat the statutory depreciation claim if the legal conditions under the Act are otherwise met. Relying on the jurisdictional High Court, the Tribunal indicated that the Assessing Officer must examine the assessee's substantive entitlement under law and follow binding precedent. The matter was therefore remitted for fresh consideration, and the depreciation claim was not finally rejected. en-us Fri, 19 Dec 2014 00:00:00 +0530 Tue, 16 Jun 2026 17:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469203 The article addresses whether depreciation can be claimed on project assets and set off against interest income despite capitalisation in the books. It notes that book treatment alone does not defeat the statutory depreciation claim if the legal conditions under the Act are otherwise met. Relying on the jurisdictional High Court, the Tribunal indicated that the Assessing Officer must examine the assessee's substantive entitlement under law and follow binding precedent. The matter was therefore remitted for fresh consideration, and the depreciation claim was not finally rejected. Case-Laws Income Tax Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469203