Supreme Court of India
Rajasthan State Electricity Board v. The Dy. Commissioner of Income Tax (assessment) & Anr.
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What the Court ordered
We hold that mechanical application of Section 143(1-A) in the facts of the present case was uncalled for.
Judgment, page 14
From the headnote
Income Tax Act, 1961: ss. 32(2) and 143 (I- ) – Additional tax – Levy of – Proprie ty – Assessee claiming 100% depreciation – As per amended s. 32(2) since the depreciation was restricted only upto 75% , Assessing Officer restricted the depreciation to 75% – Additi onal tax u/s. 143(I- ) imposed – Assessee’s application for recti fication of demand was rejected – Revision Petition against the demand of additional tax was also dismissed – In Writ Petitio n filed by the assessee, levy of additional tax was quashed by Sin gle Judge of High court – In special appeal, Division Bench uphel d the
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