Depreciation can be allowed only if Assessee claimed & Furnished details in ROI

Issue- Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in holding that two courses were open to the assessee, one being to claim depreciation and the other being forgo the depreciation and any course which is beneficial to the assessee could be adopted and the incidence of tax can be legitimately reduced ? Held – In CIT v. Shri Someshwar Sahakari Sakhar Karkhana Ltd., [1989] 177 ITR 443, the Division Bench of the Bombay High Court, while considering the questions which arose in that matter, held that there were two proconditi...