Depreciation Claim Remanded Due to Missing WDV Computation

Uttarakhand Technical University Vs DCIT (ITAT Dehradun) Depreciation Can’t Be Denied for Want of WDV Chart: Matter Remanded for De Novo Assessment Dehradun ITAT set aside the orders of lower authorities and restored the issue of depreciation to the file of the AO for fresh adjudication, holding that the matter deserved reconsideration in the interest of justice. The Assessee, a State Technical University, was denied depreciation in assessment u/s 143(3) as well as in first appeal, on the ground that it failed to furnish year-wise depreciation details and WDV as on 01-04-2015. The AO rejecte...