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2007 (3) TMI 183

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..... 1/07 - - - Dated:- 13-3-2007 - MR. P.D. DINAKARAN and MRS. CHITRA VENKATARAMAN JUDGMENT The judgment of the court was delivered by P.D.DINAKARAN,J.- This appeal is directed against the order of the Income-tax Appellate Tribunal dated 22.9.2006 made in ITA No.955/Mds/2006 for the assessment year 2000-01, raising the following substantial questions of law: "1. Whether in the facts and .....

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..... the assessment year 2000-01, even though the assessee did not claim depreciation, the Assessing Officer, allowed the depreciation to an extent of Rs.36,91,12,722/-, holding that allowing depreciation is mandatory. 3. On appeal by the assessee, the Commissioner of Income Tax (Appeals), allowed the appeal in favour of the assessee and directed the Assessing Officer not to allow any depreciation .....

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..... the provisions of Section 32 and 34 of the Income Tax Act, is specific and admits of no ambiguity. Section 32 allows depreciation as deduction subject to the provisions of Section 34. Section 34 provides that deduction under Section 32 shall be allowed only if the prescribed particulars have been furnished. Rule 5AA of the Income Tax Rules, since deleted, provided for the particulars required .....

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