2017 (10) TMI 311

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....alik, DR For The Assessee : Shri P. Murali Krishna ORDER Per Smt. P. Madhavi Devi, J.M. The appeal is filed by Revenue for the A.Y 2008-09 against the order of the CIT (A)-5, Hyderabad, dated 27.03.2015 and the cross objection is filed by the assessee. 2. In this case, during the course of assessment proceedings for the A.Y 2008-09, the assessee has filed a revised computation of in....

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....eciation in all the years starting from the year in which the assets were acquired. Following the decision of the CIT (A), the assessee was asked to explain why the depreciation should not be disallowed on the said amount. 3. The assessee submitted its reply, but the AO was not convinced with the same and completed the assessment u/s 143(3) r.w.s. 147 of the Act, against which the assessee pref....

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....012 had been challenged by both the assessee as well as the Revenue before the Tribunal in ITA No.235/Hyd/2013 and C.O No.18/Hyd/2013 and that the cross objection was raised by the assessee against the direction of the CIT (A) to reopen the assessment for the earlier A.Ys and reduce the depreciation after reducing the cost of assets, the Tribunal vide orders dated 29.07.2015 has upheld the content....