2017 (11) TMI 1835

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.... NK Saini, This is an appeal filed by the Department against the Order dt. 27.04.2016 of Ld.CIT(Appeals)-22, New Delhi. 1.1. The only effective ground raised in this appeal relates to the depreciation on goodwill which reads as under. "On the facts and in the circumstances of the case and in law, the Ld.CIT(A) has erred deleting the addition of Rs. 10,29,60,726/- on account of disa....

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....assessee by observing in para 5.3 of the impugned order as under. "5.3. The contentions of the appellant and the A.O. has been examined. The issue whether the A.O. could have entertained the claim of depreciation after the expiry of time limit for filing of revised return u/s 139(5) is irrelevant in this case as explanation 5 to Sec.32(1) makes it mandatory for the A.O. to grant depreciat....

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....of the Income Tax Act, 1961 "Explanation 5: For the removal of doubts, it is hereby declared that the provisions of this sub section shall apply whether or not the assessee has claimed the deduction in respect of depreciation in computing his total income." 5. On perusal of the above provision it is clear that even if the assessee had not claimed any deduction in respect of depreciatio....