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2015 (2) TMI 366 - ANDHRA PRADESH HIGH COURTDepreciation on cost of the shuttering material - AO allowed depreciation only to the extent of 25%. - Held that:- A legally binding precedent has its own strength and it does not depend upon the views of the Authors of Books and other persons connected with law. However, the view expressed in an otherwise respected Treatise cannot be ignored altogether. Though it may not effect the binding nature of the precedent, it may appeal in its own way to the Courts, wherever such a precedent is cited. Though we concede to the authors the right to express their reservation about the correctness of a Judgment, with due respect to them, we are of the view that the disagreement could have been expressed in more delicate manner, notwithstanding their concern about uncertainty in law. On our part, we are only making an effort to recognize certain aspects of law, which have already been propounded, than pointing out mistakes. On merits also, we are convinced that the irreducible minimum for the shuttering material is the individual plates, for providing support to the reinforced concrete and cement or the poles and bars that are used at the time of formation. We choose to fall in line not only with the judgment of this Court in Sri Krishna Bottlers Pvt. Ltd.s case (1988 (4)TMI 10 - ANDHRA PRADESH High Court), which in turn has drawn its conclusion based upon the judgment of the Supreme Court in Commissioner of Income Tax vs. Taj Mahal Hotel [1971 (8) TMI 2 - SUPREME Court], but also the judgments rendered by the other High Courts to allow 100% depreciation - Decided in favour of assessee.
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