The disallowance of depreciation would only enhance the profit of the assessee
The Income Tax Appellate Tribunal ( ITAT ) of Delhi, allowed depreciation claim under Section 80IC of Income Tax Act, 1961, for building, furniture, and plant machinery blocks. The assessee is a resident corporate entity. As stated by the Assessing Officer, the main objects of the assessee are manufacture and distribution of flexible laminates. The…
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