- (1.) Heard Sri Vishwjeet, Advocate, for petitioner and Sri Shambhoo Chopra, Advocate, for respondents.
(2.) This writ petition under Article 226 has arisen from the order dated 13.10.2011, passed by respondent no. 2, Assistant Commissioner, Income Tax, Agra for the Assessment Year 2009-10 under Section 143 (3) of Income Tax Act, 1961 (hereinafter referred to as "Act, 1961") and the order dated 4.3.2013 passed by Commissioner of Income Tax-I, Agra, under Section 264 of Act, 1961 dismissing the petition of Assessee against the aforesaid order of Assessing Authority.
(3.) Petitioner, a registered partnership firm, is engaged in the business of executing civil works contracts in different Departments. For the Assessment year 2009-10, return was filed under Section 139 (1) of Act, 1961 disclosing net taxable income as Rs. 4,99,500/-. Petitioner claimed depreciation of Rs. 25,67,785/- as per the depreciation chart and submitted accounts, i.e. trading, profit and loss accounts, balance sheet, deprecation chart etc.;