2007 (3) TMI 183

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.... the order of the Income-tax Appellate Tribunal dated 22.9.2006 made in ITA No.955/Mds/2006 for the assessment year 2000-01, raising the following substantial questions of law: "1. Whether in the facts and circumstances of the case, the Tribunal was right in holding that the assessee has an option not to claim depreciation in any particular year ? 2. Whether in the facts and circumstances of....

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....iation is mandatory. 3. On appeal by the assessee, the Commissioner of Income Tax (Appeals), allowed the appeal in favour of the assessee and directed the Assessing Officer not to allow any depreciation for the assessment year 2000-01. 4. On appeal by the Revenue, the Tribunal following the decision of the Apex Court in Commissioner of Income Tax v. Mahendra Mills, [2003] 243 ITR 56 held tha....

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.... that deduction under Section 32 shall be allowed only if the prescribed particulars have been furnished.  Rule 5AA of the Income Tax Rules, since deleted, provided for the particulars required for the purpose of deduction under Section 32.  Even in the absence of Rule 5AA, the return of income in the form prescribed itself requires particulars to be furnished if the assessee claims depr....