Law:

Section:

Section 32 of the Income-tax Act, 1961 - Depreciation - Allowance/Rate of - Assessment year 1972-73 - Whether assessee had an option to claim or not to claim depreciation and that ITO was not entitled in law to allow depreciation when assessee had not supplied particulars for grant of depreciation allowance as required by section 34 - Held, yes FACTS The Tribunal held that the assessee had an option to claim or not to claim depreciation and that the ITO was not entitled in law to allow depreciation when the assessee had not supplied the particulars for grant of depreciation allowance as required by section 34. On reference : HELD Following the decision of this court in the case of CIT v. Shri Someshwar Sahakari Sakhar Karkhana Ltd. [1989] 177 ITR 443 (Bom), it was to be held that the order passed by the Tribunal was correct. Note : The case has been decided in favour of the assessee. CASE REFERRED TO CIT v. Shri Someshwar Sahakari Sakhar Karkhana Ltd. [1989] 177 ITR 443 (Bom.). P.S. Jetley, G.S. Jetley and K.C. Sidhwa for the Applicant. S.N. Inamdar for the Respondent. JUDGMENT T.D. Sugla, J.-…

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