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2018 (12) TMI 1855 - HC - Income TaxDisallowance of interest expense made u/s 14A in respect of exempt income u/s 80P(2)(d) - Tribunal directing the A.O. to compute the deduction u/s 80P(2)(d) (on gross receipt) after considering the provisions of section 80AB - HELD THAT:- It is an admitted position that the controversy raised vide the said questions is no longer res integra as the same stands concluded by a judgment and order passed by this court in the assessee's own case [2014 (6) TMI 977 - GUJARAT HIGH COURT] whereby the questions have been answered in favour of the assessee and against the revenue. Under the circumstances, no question of law can be stated to arise out of the said questions. Disallowance on account of additional depreciation on Milk Cans - milk cans are for collecting and storage purposes and being movable assets are not installed and, therefore, cannot be treated as plants in view of the provisions of section 32(1)(iia) -Tribunal after considering the definition of “plant” as contemplated under section 43(3) of the Act, has found that milk cans are plant as per the said definition and has, accordingly, deleted the disallowance - HELD THAT:- Having regard to the fact that the Assessing Officer has himself considered milk cans as plant for the purpose of normal depreciation, he was not justified in disallowing the claim for additional depreciation by holding that such milk cans cannot be treated as plant. The Tribunal, therefore, did not commit any error. Question (C), therefore, does not raise any substantial question of law. Disallowance on account of additional depreciation on Plant & Machinery - HELD THAT:- Existing provisions of section 32 of the Act and more particularly to the third proviso thereto was introduced with effect from 1.4.2016 whereas in the present case, we are concerned with the assessment year 2012-13. As submitted that in the absence of any such provision in the Act at the relevant time, the Tribunal was not justified in holding that the assessee was entitled to additional depreciation on the new machinery or plant even in the succeeding year. The following substantial question of law arises for consideration:- “Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was justified in deleting the disallowance claimed on account of additional depreciation on plant and machinery?”
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