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2016 (1) TMI 1299 - AT - Income TaxTPA - comparability of the assessee with HFCL - Held that:- On a careful reading of the impugned order, we find that in the absence of any infirmity in the reasoning adopted by the First Appellate Authority, the arguments of the Ld. Sr.DR cannot be accepted. The Revenue has not assailed the finding of the CIT(A) that functional comparability of the assessee with HFCL stands established. Thus where on FAR analysis the conclusion that it is correctly chosen as a comparable remains is unassailed, then it is necessary for the Revenue at that stage to bring some cogent reason, argument or fact justifying that still the comparable needs to be excluded. Merely re-iterating the TPO’s stand at this stage that it was consistently a loss making company does not hold good in the face of the finding of the CIT(A). The data placed on record by the assessee assails the conclusion and this fact has been accepted by the CIT(A). We further find that it remains unrebutted on record. In the afore-mentioned peculiar factual position, we find that there is no merit in the departmental appeal. Disallowance of excess depreciation on UPS - Held that:- A perusal of the order shows that relying upon the decision of the Delhi High Court in the case of CIT vs BSES Rajdhani Power Ltd. [2010 (8) TMI 58 - DELHI HIGH COURT ] depreciation @ 60% for UPS, printers and scanners on the ground that they formed integral part of the computer system is allowed and held to be applicable to block of computer. The position of law is well-settled, thus in the absence of any arguments to the contrary by the Revenue, Ground of the Revenue is dismissed.
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