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2009 (11) TMI 556 - ITAT MADRAS-DAssessment u/s 143(3) - Assessment is legal and valid - Depreciation @ 80 per cent on windmill on the ground that the assessees did not exercise option as per second proviso to r. 5(1A) before the due date of furnishing the return of income under s. 139(1) of the IT Act - The returns filed by the assessees in all these cases were processed under s. 143(1) of the IT Act originally - The cases fall under the main provisions of s. 147 and not under the proviso to s. 147 of the Act - the contention of the learned counsel for the assessee against the reopening - Issue is decided against the assessee and in favour of the Revenue Windmill as energy saving device being 'G' at S. No. (xiii) in Appendix providing the rate of depreciation - There is no mandatory requirement under s. 11 (1) of the Act requiring the assessee to exercise the option when he seeks relief under s. 11(1) of the Act, as it is enough for the assessee to submit a statement along with the return to exercise such option. - As per the third proviso to r. 5(1A) when an option once exercised shall be final and shall apply to all the subsequent assessment years, then for the subsequent years there is no requirement of exercising any separate option. - appeals have satisfied the requirement of second proviso to r. 5(1A) - Issue is decided in favour of assessee.
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