Tribunal held that the assessee changed its accounting policies to claim depreciation at rate of 15 per cent on capital spares instead of amortizing cost of those spares over a period of 14 years, since such change did not contravene any of provisions of section 32 the depreciation is allowable. (AY. 2010-11)
Gujarat State Energy Generation Ltd. v. ACIT (2020) 183 ITD 590 (Ahd.)(Trib.)
S. 32 : Depreciation-Capital spares-Change in accounting policy-Depreciation is allowable at 15%.