Delhi High Court
Cit vs Honda Sielpower Products Ltd. on 3 July, 2007
Bench: M B Lokur, V Gupta
JUDGMENT
1. The issue raised in the present appeal is with regard to the increased claim of depreciation under Section 43 A of the Income Tax Act, 1961 on the increased liability due to foreign exchange rate fluctuation on the last date of the previous year.
2. A Division Bench of this Court in CIT v. Woodward Governor India (P) Ltd. (2007) 162 Taxman 60 has held that the assessed is entitled to the claim of depreciation.
3. Under the circumstances, no substantial question of law arises and the appeal is dismissed.