Case Law Details
Case Name : Niho Construction Limited Vs DCIT (ITAT Delhi)
Appeal Number : ITA No.3063/Del./2011
Date of Judgement/Order : 31/05/2012
Related Assessment Year : 2007-08
Courts :
All ITAT ITAT Delhi
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Niho Construction Limited Vs DCIT (ITAT Delhi)
Assessee claimed 100% Depreciation on Mobile Phones, each of which cost less than Rs. 5,000/-. But Assessing Officer (AO) restricted the depreciation to 15%, treating them general plant & Machinery. Assessee approached ITAT and AO argued that List of items on which 100% depreciation is allowed is specifically provide in Income Tax Act and Mobile Phones are not mentioned in it ITAT accepted the argument and restricted Depreciation to 15%.
FULL TEXT OF THE ORDER OF ITAT DELHI
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