TMI Blog2013 (2) TMI 764X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee moved this M.A. No. 227/ Ahd/ 2012, which is reproduced as under: This miscellaneous application arises out of a order dated 14- 09-2012 (copy enclosed) passed by the Hon ble ITAT, Bench D in the case of M/s. Gujarat Narmada Valley Fertilizers Chemicals Ltd. [Formerly known as M/s. Gujarat Narmada Valley Fertilizers Co. Ltd.] vs. ACIT, Bharuch Range, Bharuch for A.Y. 2006-07 in respect of issue relating to disallowance of depreciation on leased assets. 1.0 Before the Hon ble ITAT the applicant had raised the following ground No.4. in its Appeal No. 827/A/2010: In law and in the facts and circumstances of the appellant s case, the learned Commissioner of Income Tax(Appeals) has erred in confirming depreciation amou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The concluding para of the said decision is also reproduced in the para 15 of the order under consideration. It was also mentioned at the time of hearing that alleged leased assets i.e. Railway wagons were given on lease to Western Railway since A.Y. 1997-98. The applicant's claim of depreciation on such leased assets was allowed since A.Y. 1997-98 either by the AO in assessment proceedings or by the Hon'ble ITAT as mentioned above. The Hon'ble ITAT in earlier years has allowed the claim of depreciation after verifying the terms and conditions of the lease agreement as well as after considering the decision of Hon'ble Supreme Court in the case of Asian Brown Boveri Ltd. (ABB Ltd) which was referred to by the Special ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r and thereafter what is followed in subsequent year is only WDV of that asset which goes on reducing by granting depreciation on year to year basis. Changing the texture of the decision in-between the years can only create confusion and pose the difficulties in passing consequential order. 5.3 The above being the mistakes apparent from record, the applicant requests Hon ble Bench to rectify the same and follow the order of earlier years in its own case in the interest of justice by suitably modifying the impugned order. 2. We have considered the assessee s application and accordingly, we allow the miscellaneous application. The Registry is directed to fix the case before the regular Bench. 3. In the result, the M.A. of the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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