The Tax Publishers2021 TaxPub(DT) 1068 (Hyd-Trib)

INCOME TAX ACT 1961

Section 32

Where assessee's statement of depreciation as per Income Tax Act sufficiently revealing that it had placed not only the details of the corresponding fixed asset generator but also filed necessary particulars during the course of assessment as per the certificate coming from the paper book, there was no merit in Revenue's foregoing technical grievance under rule 46 of the Income Tax Rules.

Depreciation - Allowability - Fixed asset (generator) - All necessary particulars filed--Whether violation of rule 46

Revenue sought restoration of depreciation issue back to the AO on the ground that CIT(A) had erred in law and on facts in admitting the assessee's additional evidence regarding the purchase of invoice(s) of the fixed asset in the nature of generator during the lower appellate proceedings and that too, in violation of rule 46A. Held: Assessee's statement of depreciation as per Income Tax Act sufficiently revealing that it had placed not only the details of the corresponding fixed asset generator but also filed necessary particulars during the course of assessment as per the certificate coming from the paper book. There was no merit in Revenue's foregoing technical grievance under rule 46 of the Income Tax Rules. The same was accordingly declined.

REFERRED :

FAVOUR : In favour of assessee

A.Y. : 2011-12



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