Depreciation not allowable if proof of addition to fixed Assets not submitted

Owens Corning India Pvt. Ltd. Vs ACIT (ITAT Mumbai) We observe that in A.Y. 2006-07 Assessing Officer observed that assessee has claimed depreciation of ₹.93,40,242/- and when the assessee was asked to submit the supporting evidences in support of the above claim, assessee failed to furnish the supporting evidences such as bills, date on which put to use etc. However, Assessing Officer itself observed that assessee has intimated Excise Authority regarding loss of materials due to heavy rain and flood in Taloja Factory in July 2005, observing that bills are mostly kept in head office situated...