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2015 (2) TMI 804 - HC - Income TaxHigher rate of depreciation of 10 per cent. on 'creche building' - business assets or not - Held that:- It is not in dispute that the creche building is situated within the same compound of the factory where the assessee carries on manufacturing activity. For the purpose of increasing efficiency, productivity of the women employees were engaged in the factory, creche is created by the assessee in a separate building. In other words, the creche building is being utilized in the process of manufacturing of the products. Considering the importance of the creche building, the creche building is included as one of the business assets which is allowable for granting of depreciation. In this context, it may also be noted that the assessee is being assessed under the head of "Income from business". Thus the order of the Tribunal in allowing the depreciation at 10 per cent. treating the creche building as a business asset cannot be found fault. - Decided in favour of assessee. Excess prices recovered and deposited with the DPEA - ITAT allowing the assessee's claim of liability for the assessment years 1984-85 and 1985-86 under the Drugs (Price Control) Order, 1979 - Held that:- The relevant provisions of the DPCO does not leave any option to the assessee to retain the excess amounts collected. Liability under the provisions of the DPCO is fastened on the assessee the moment the sales are made at a price exceeding the price prevailing on the date of introduction of the DPCO. Merely because the assessee though challenged the liability by filing a writ petition in the High Court of Mumbai, the liability itself does not get obliterated as the liability is in fact on account of a statutory control order issued in exercise of the powers vested in the Government under the Essential Commodities Act. In fact, the Tribunal had taken the same view and had come to a conclusion after detailed analysis of the provisions of the DPCO that the liability imposed on the assessee with respect to excess amounts collected over and above the prices notified in the DPCO are of the statutory nature. See Kedarnath Jute Manufacturing Co. Ltd. v. CIT [1971 (8) TMI 10 - SUPREME Court] - Decided in favour of the assessee
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