ITAT allowed additional depreciation claim of Rs. 49.5 cr notwithstanding Authorities failed to appreciate Amended Provision of S. 36(1) (iia)

Dakshin Gujarat Vij Co. Ltd. Vs DCIT (ITAT Ahmedabad)

Conclusion: Tribunal allowed a claim of Rs. 49.5 crore in the interest of Principle of Natural Justice after finding that the respective authorities failed to appreciate the amended provision of Section 36(1)(iia) of the Income Tax Act, 1961, resulting in the denial of an additional depreciation claim.

Held: Assessee was a company engaged in the business of distribution of electricity. It filed its e-Re

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