ITAT Directs AO to Verify & Allow Assessee’s Depreciation Claim on Assets from Demerged Company

DCIT Vs Avichal Buildcon Pvt. Ltd. (ITAT Delhi) In a recent ruling by the Income Tax Appellate Tribunal (ITAT) Delhi, a crucial issue regarding the allowance of depreciation on assets acquired through a demerger was addressed. The case, involving Avichal Buildcon Pvt. Ltd., shed light on the complex interplay between demerger transactions, depreciation claims, and government incentives. This article provides a detailed analysis of the case, emphasizing its implications and significance in tax law jurisprudence. Background: Avichal Buildcon Pvt. Ltd. emerged as a corporate entity following the ...