2019 (1) TMI 118

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....ejveer Singh For the Respondent : Mr. Percy Pardiwala, Senior Advocate a/w Ms. Vasanti Patil ORDER P.C.: 1. All these appeals involved the same assessee and identical issues. We may refer to facts from Income Tax Appeal No. 801 of 2016. 2. This appeal is filed by the Revenue challenging the judgment of the Income Tax Appellate Tribunal ("the Tribunal" for short) dated 4.3.2015. Following ques....

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....pugned judgment, the Tribunal noted that the assessee in the return had raised the claim of depreciation on its intellectual property rights. During the search operation, director of the assessee company reduced the claim of depreciation in his statement under Section 132(4) of the Act recorded by the Income Tax Authorities. The Tribunal further noted that during such search, no incriminating mate....