TMI Blog2014 (4) TMI 1149X X X X Extracts X X X X X X X X Extracts X X X X ..... ee by excluding the value of capital component of the lease rent from the income of the assessee. See M/s ICDS. LTD. Versus COMMISSIONER OF INCOME TAX. MYSORE & ANR. [2013 (1) TMI 344 - SUPREME COURT ] - MA 420 to 422/Mum/2013 Arising out of ITA No. 2574 to 2576/Mum/2010 - - - Dated:- 30-4-2014 - SHRI P.M. JAGTAP, AM AND SHRI VIVEK VARMA, JM Applicant by : Shri Heena Doshi Responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disposing of the aforesaid appeals of the assessee vide a common order dated 9-5-2012, the disallowance made by the A.O. and confirmed by the ld. CIT(A) on account of assessee s claim for depreciation on the assets purchased and given back on lease was sustained by the Tribunal relying on the decision of Special Bench of the tribunal in the case of M/s IndusInd Bank Ltd. Vs. Addl. CIT passed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and 1996-97 to allow a similar claim of the assessee for depreciation in the case of sale and lease back transactions. The decision rendered by the Tribunal vide its order dated 9-5-2012 (supra) thus is contrary to the view expressed by the Hon ble Supreme Court in the case of I.C.D.S. Ltd. (supra) rendered subsequently and this position has not been disputed even by the ld. D.R. at the time of h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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