Court held that the Auditor’s report provided itemwise accounting of assets but it was received after much delay. Accordingly fresh decision on depreciation claimed on assets transferred pursuant to scheme in question was to be determined on basis of itemwise details of Auditor’s Report. Matter remanded. (AY. 2007 -08 to 2012-13)
CIT v. Poorvanchal Vidyut Vitran Nigam Ltd. (2020) 268 Taxman 132 (All.)(HC)
S. 32 : Depreciation–Amalgamation-Receipt of the Auditors report subsequently-Directed to allow the depreciation on the basis of Auditor’s report.