Higher Depreciation Restored as 143(1) Can’t Decide Debatable Claims

Vikas Goyal Vs DCIT (ITAT Bangalore) 143(1) Has Its Limits: ITAT Bangalore Allows 30% Depreciation on Goods Carriages; CPC Cannot Decide Debatable Issues at Processing Stage Bangalore ‘ ITAT quashed the adjustment made by CPC while processing the return u/s 143(1) and allowed the Assessee’s claim of higher depreciation @30% on goods carriage vehicles used in transportation business. The Tribunal held that CPC exceeded its jurisdiction by restricting depreciation to 15% and disallowing ₹25,04,890/-, as the issue whether vehicles are used in a business of running them on hire is a debatabl...