TaxTMI 
TaxTMI 
Additional Depreciation Allowed without Revised Return
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....dditional Depreciation Allowed without Revised Return<br>By: - LALIT MUNOYAT<br>Income Tax<br>Dated:- 26-3-2026<br>Deputy Commissioner of Income Tax, Circle-1, Thane Versus MM Plastoware India Private Limited And (Vice-Versa) - 2025 (3) TMI 1625 - ITAT MUMBAI The Tribunal held that the maintainability of the Revenue's appeal is to be examined with reference to the correct tax effect ar....
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....ising from the actual disputed issues, and not on the basis of any erroneous or inflated figures mentioned in Form No. 36, and where such correctly computed tax effect falls below the monetary limit prescribed under the binding CBDT Circulars, the appeal is liable to be dismissed in limine. On the substantive issue, it was observed that while the Assessing Officer, in view of the decision in Goetz....
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....e (India) Limited Versus Commissioner of Income-Tax - 2006 (3) TMI 75 - Supreme Court, is constrained from entertaining a fresh claim otherwise than by way of a revised return, such embargo does not extend to the appellate authorities, who are competent to admit and adjudicate claims, including those not made in the return, with a view to determining the correct taxable income. Accordingly, t....
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....he action of the CIT(A) in granting relief by allowing the assessee's claim for correction of depreciation arising from a computational error in the opening WDV, as well as the claim of additional depreciation duly supported by material on record, was upheld, it being a settled position that procedural requirements cannot defeat substantive rights, particularly where the claim represents a cor....
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....rection of an existing allowance rather than a wholly new claim. =============<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....