2024 (3) TMI 94

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....ORDER PER SATBEER SINGH GODARA, J.M. : This assessee's appeal for assessment year 2011-2012, arises against the CIT(A)-2, Kolhapur, Kolhapur's Order in appeal no. Kop/147/2015/16, dated 28.10.2015, involving proceedings u/s. 154 of the Income Tax Act, 1961 (in short "the Act"). Case called twice. None appears at assessee's behest. It is accordingly proceeded ex-parte. 2. The Revenue pleads the....

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....). 3. On the facts and in the circumstances of the law, the CIT(A)-2, Kolhapur, erred in allowing the claim of additional depreciation on WDV ignoring the legal position, that such claim is allowed only on actual cost of new machinery or plant acquired and installed after the 31st day of March, 2005. 4. The appellant prays that the order of the CIT(A)-2, Kolhapur be vacated and that of the A....

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....med his sec.143(3) regular assessment on 07.01.2014 accepting the assessee's depreciation as well as additional depreciation claims, as the case may be. This followed the Revenue Audit Party ["RAP"]'s objections that the Assessing Officer's regular assessment had resulted in under-assessment of income qua the foregoing depreciation/additional depreciation issue(s). This made the Assessing Officer ....