TaxTMI 
TaxTMI 
2021 (5) TMI 202
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....This appeal filed by the assessee is directed against the order dated 27th September, 2019 of the CIT(A), Karnal, relating to the assessment year 2014-15. 2. Facts of the case, in brief, are that the assessee is a partnership firm and derives income from manufacturing and trading of rice by husking of paddy and sales thereof. It filed its return of income on 25th September, 2013 declaring an inco....
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....g the claim of additional depreciation which is the subject matter of appeal before the Tribunal. However, the ld.CIT(A) dismissed the claim of additional depreciation raised before him by observing as under:- "I have examined the facts of the case, the remand report of the Assessing Officer (A.O.) and the counter comments of the appellant. In this case, a claim had been made at the assessment....
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....gainst law and facts. 2. The claim of additional Depreciation made during assessment proceedings should have been allowed in view of section 32(1) as A.O. is bound to allow additional Depreciation in view of explanation 5 to section 32(1). 3. That claim for additional Depreciation even made during assessment proceedings should have been allowed by A.O. in view of Board Circular No. 14(XI-35) o....