Validity of Depreciation claimed for first time in return filed U/s. 153A pursuant to search

CIT Vs. Shri Tikam Khandelwal (Rajasthan High Court)

On perusal of details and ledger account produced by the assessee it is noticed that the assessee has claimed depreciation @ 30% at Rs. 5,62,631. The assessee has claimed depreciation in the return filed in response to notice under section 153A on 2-7-2008. In his original return the assessee neither shown income from hiring of taxi nor claimed depreciation on taxi in his original return filed under section 139(1). During the course of assessment proceedings the assessee was asked as to why depreciation claimed o

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