2011 (12) TMI 659

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....he order of the ld.CIT, Ajmer dated 15-03-2011 for the assessment year 2006-07. 2.1 The only grievance of the assessee is that the ld.CIT has recorded the findings that the order of the AO is erroneous and prejudicial to the interest of the Revenue as the AO has allowed the additional depreciation. 2.2 According to the ld. CIT, the AO has allowed depreciation on windmill as well as additional de....

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....e. It is mentioned in the Rule 5(1A) that the undertaking cover u/s 32(1)(i) may claim depreciation as percentage on the written down value. It is not the case of the Revenue that the assessee has claimed depreciation on the actual cost in the succeeding year so as to say that assessee is covered u/s 32(1)(i) of the Act. It is true that total depreciation allowed in Section 32(1)(i) cannot exceed ....