CIT(A) Cuts Asset Value by 50% for Depreciation Without Justification; Decision Challenged for Lack of Evidence.

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....Claim of depreciation - CIT(A) has reduced the purchase value by 50% and allowed depreciation thereon - CIT(A) failed to record that on what basis he has reduced 50% of the purchase value - When the evidences and details produced by the assessee, action of CIT(A) is not justified.....