Tuesday 22 September 2015

HC disallowed depreciation as assessee failed to prove that windmill was actually installed at proje

IT: Where Tribunal disallowed depreciation on windmill by holding that certificates which were relied upon by Commissioner (Appeals) and site inspection did not remove essential discrepancy, since it was physically impossible for consignment to cover a distance of 800 kilometers to reach proposed site and project of this magnitude was unable to commission within a short span, order passed was justified

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