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TMI Blog1972 (1) TMI 32X X X X Extracts X X X X X X X X Extracts X X X X ..... er the Income-tax Officer allowed depreciation on a truck purchased by the assessee for the purpose of its business. The depreciation allowed amounted to Rs. 3,000. An appeal was filed by the assessee before the Appellate Assistant Commissioner, and one of the grounds was that as the assessee did not furnish the particulars in its return necessary for allowing depreciation, the Income-tax Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ustified in allowing depreciation on the truck even though the particulars of the truck were not furnished by the assessee in Part V of the return of income but were furnished in the course of assessment proceedings before the Income-tax Officer?" The assessment proceedings for the assessment year 1961-62 were commenced by notice under section 147 of the Income-tax Act, 1961, and the assessment i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... only if the prescribed particulars have been furnished. In what form the prescribed particulars must be furnished, or in what document, is not mentioned in section 34. There is no requirement in that section that the prescribed particulars must be furnished in any particular document. Rule 12 of the Income-tax Rules provides for the form in which the return of income must be furnished. In the form ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessment proceedings in this case the Income-tax Officer did come to know the date on which the track was purchased, and the original cost of the truck, and from that along with the rate prescribed by the rules for allowing depreciation, he could have computed and allowed depreciation. We are not satisfied that merely because the assessee did not file the necessary particulars in the return f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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