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2009 (6) TMI 644 - AT - Income TaxAddition - Balancing charge - Accrual or receipt basis - appellant's alternate claim that insurance claims received against the damaged windmills should be assessed under s. 145(1A) instead of under s. 41 (2) is not acceptable for the reason that there is a specific provision under s. 41 (2) for charging of deemed income on account of balancing charge created as a result of receipt of excess scrap value for the damaged assets over and above its WDV - in asst. yr. 1993-94 same being installed after commissioning in September, 50 per cent depreciation was granted and balance 50 per cent was granted in asst. yr. 1994-95 under s. 32 only and not under s. 32(1)(i) - Therefore, in this case windmill owned by the assessee and used for the purpose of business, two conditions i.e., (a) and (c) are fulfilled but the second condition namely (b) in respect of which depreciable is claimed under cl. (i) of sub-s. (1) of s. 32 is not fulfilled as the assessee has not claimed and was not granted depreciation under s. 32(1)(i) of the Act by virtue of this the provisions of s. 41(2) just are not attracted - Decided in favor of the assessee Disallowance of repairs as capital in nature - To support the claim that the building used for office premises necessitating repairs and maintenance are of revenue in nature, while concluding it was strongly argued by the learned Authorised Representative that no new assets come into existence. no benefits of enduring nature and the nature and description of the expenses themselves go to prove that they are of revenue in nature - Decided in favor of the assessee
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