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Disallowance of genuine depreciation claim on very flimsy reason is unjustified
Case Law Details
- Case Name
- Zila Sahkari Bank Ltd Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Delhi
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Zila Sahkari Bank Ltd Vs DCIT (ITAT Delhi)
ITAT Delhi held that disallowance of genuine claim of depreciation merely because the depreciation figure is not reflected in column no. 45 of ITR is unsustainable in law. Action of lower authorities of disallowing the genuine claim of depreciation on a very flimsy reason is unjustified.
Facts- The assessee is challenging the disallowance of depreciation of Rs. 97,94,657/- on fixed assets as per Section 32 of the Act and addition made u/s. 69 r.w.s. 115BBE of the Act for the same.
Conclusion- The only reason adduced by the lower authorities for not al...
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