2002 (9) TMI 12 - HC - Income Tax

Allowance of depreciation for the block period - Tribunal giving its finding for disallowance of depreciation in block assessment - Tribunal has arrived at findings of fact after appreciating the evidence on record, including material seized during the course of search and seizure proceedings, and on going through the aforesaid order of the Tribunal it is apparent that no substantial question of law, much less any question of law arises out of the order of the Tribunal.

Summary

The High Court of Gujarat dismissed the appeal regarding the disallowance of depreciation under the Income-tax Act, 1961, for the block assessment period. The Tribunal's decision was upheld as no substantial question of law arose from their order. The appeal was dismissed.