Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (8) TMI 423 - HC - Income TaxReopening of assessment - installation of the Rotary Printing Press was not completed in the assessment year 1982-1983 and that therefore, the investment allowance and depreciation granted in the assessment order was irregular - Held that:- Facts are evident from the orders passed by the Commissioner and the Tribunal, which show that on import of the machinery, using local labour, the assessee had installed it. To prove that the Press was installed and commissioned, the assessee had produced before the Assessing Officer a bill issued it for undertaking printing work. However, the Assessing Officer declined to act upon that bill stating that it lacked any evidentiary value. The reason for such conclusion was that it was issued to a related company. On this aspect, the Tribunal has rightly held that in the absence of any other justifiable vitiating circumstances, the Assessing Officer was wrong in declining to accept the bill produced by the assessee. We fully agree with the Tribunal on this finding. This therefore, shows that the fundamental basis on which the assessment was re- opened itself was untenable. If that be so, the Tribunal was justified in upholding the order of the Commissioner setting aside Annexure - A, the re-opened assessment order issued for the assessment year 1982-1983. Such being the case, we do not see any question of law arising in this appeal. - Decided in favour of assessee.
|