The Court affirmed that the claim for depreciation was optional for the assessee for years prior to the insertion of Explanation 5 to Section 32(1) with effect from 01.04.2002. Referred  CIT v. Mahendra Mills/Arun Textile ‘C’ / Humphreys / Glassgow Consultants (2000) 109 Taxman 225 / 243 ITR 56 (SC)