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2020 (4) TMI 86 - ITAT DELHIDisallowance of depreciation u/s 32(1) r.w.s. 43(l) - assets of the demerged units included asset acquired out of Excise duty exemption (accounted as deferred government grants in the books of accounts) as per scheme of investment - excise refund being revenue receipt cannot be reduced from the cost of plant & machinery - HELD THAT:- In view of the identical question of whether the receipt of excise refund is capital receipt or revenue receipt and whether same will go to reduce the actual cost of asset is involved in the year under consideration, and thus, respectfully following the finding of the Tribunal in [2018 (9) TMI 1791 - ITAT DELHI ] we uphold the finding of the Ld. CIT(A) on the issue in dispute. The grounds of the appeal raised by the Revenue in both assessment years are dismissed.
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