RAJASTHAN STATE ELECTRICITY BOARD JAIPUR vs THE DY. COMMISSIONER OF INCOME TAX (ASSESSMENT)

The Supreme Court ruled in favor of the Rajasthan State Electricity Board, overturning the High Court's decision that upheld the demand for additional tax under Section 143(1-A) of the Income Tax Act, 1961. The court found that the assessee, a government company, had correctly claimed 100% depreciation under the unamended provisions of the Act, and that no tax was payable as no notice under Section 143(2) was issued. The judgment clarified the applicability of depreciation claims in light of legislative amendments.