1972 (1) TMI 32

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....r the Income-tax Officer allowed depreciation on a truck purchased by the assessee for the purpose of its business. The depreciation allowed amounted to Rs. 3,000. An appeal was filed by the assessee before the Appellate Assistant Commissioner, and one of the grounds was that as the assessee did not furnish the particulars in its return necessary for allowing depreciation, the Income-tax Officer s....

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....stified in allowing depreciation on the truck even though the particulars of the truck were not furnished by the assessee in Part V of the return of income but were furnished in the course of assessment proceedings before the Income-tax Officer?" The assessment proceedings for the assessment year 1961-62 were commenced by notice under section 147 of the Income-tax Act, 1961, and the assessment it....

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....nly if the prescribed particulars have been furnished. In what form the prescribed particulars must be furnished, or in what document, is not mentioned in section 34. There is no requirement in that section that the prescribed particulars must be furnished in any particular document. Rule 12 of the Income-tax Rules provides for the form in which the return of income must be furnished. In the form ....