2023 (8) TMI 231 - SCH - Income Tax

Depreciation on oil wells - @10% OR 80% - HC held ITAT did not erred in law and on facts in allowing the depreciation on oil wells treating the same as Plant and Machinery - HELD THAT - SLP dismissed.

Summary

The Supreme Court dismissed the special leave petition, finding no reason to interfere with the impugned judgment and order. Delay was condoned, and pending applications were disposed of. Justices B.V. Nagarathna and Prashant Kumar Mishra presided over the case.