Supreme Court of India
Commissioner of Income Tax v. Mahendra Mills
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What the Court ordered
We hold that it is not open to the assessee to deliberately withdraw the claim for depreciation and such a deliberate withdrawal of the claim can neither be regarded as an omission nor furnishing a wrong statement in the original return.
Judgment, page 23
From the headnote
Income Tax: Sections 32, 34, 28 and 29-Depreciation allowance-Grant of-Claim for depreciation and furnishing of prescribed particulars by assessee is nec essary-In its absence, there is no mandate on the income-tax officer to compute the income by allowing depreciation-Circular No. 29D(XIX-14) of 1965, . No. 451239165.JTJ dated August 31, 1965 and Circular No. 14(SL-35) of 1955 dated April 11, 1955. Section 139(5)-Assessment based on revised return-Claim of depre ciation cannot be granted on the original return. Worru and Phrases : Actually allowed-Meaning of-In the context of Sections 16,
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