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2014 (7) TMI 1190 - AT - Income TaxAllowance of depreciation on foundation and other civil work of wind mill - Held that:- There is no infirmity in the order of the Ld. CIT(A) who rightly directed the Assessing Officer to recalculate the depreciation after giving effect to the order of the ITAT [2011 (11) TMI 725 - ITAT JODHPUR], depreciation was changed for the A.Y. 2006-07 which had the impact on the depreciation for the A.Y. 2007-08. The assessee brought forward the unabsorbed depreciation for both the preceding assessment years i.e. A.Y. 2006-07 & 2007-08 which was claimed against the income for the year under consideration and as there was change in actual depreciation which was to be allowed after giving appeal effect of the ITAT order [2011 (11) TMI 725 - ITAT JODHPUR], the Ld. CIT(A) rightly directed the Assessing Officer to allow depreciation after considering the decision of the ITAT and recalculate the allowable depreciation on the wind mill. We do not see any infirmity in the order of the Ld. CIT(A) on this issue. - Decided against revenue Deduction u/s 80IA from the profit of eligible business - Held that:- The Hon'ble Madras High Court in the case of CIT Vs. Emerald Jewel Industries (P) Ltd. reported in (2010 (8) TMI 648 - Madras High Court) held that the assessee-company is eligible for deduction u/s 80IA of the Act in respect of wind mill installed by it and unabsorbed depreciation of the earlier years could not be reduced from profit for computing the deduction u/s 80IA of the Act. - Decided against revenue
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