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2017 (4) TMI 1534 - AT - Income TaxDisallowance u/s. 32(1)(iia) - additional depreciation on the purchase of wind mills u/s. 32(1)(iia) - main business of the assessee is not producing or generating electricity therefore, the assessee company is not entitled for any benefit - CIT(A) allowed the claim on additional depreciation on windmill for the year under consideration in view of the fact that benefit of additional depreciation on power generation will apply in relation to assessment year 2013-14 onwards and will not apply to the year under consideration as per amended provisions of section 32(1)(iia) of Finance Act, 2012 w.e.f. 01.04.2013 - HELD THAT:- We on perusal of the assessment order found that the Revenue has not accepted the decision and filed SLP. This Tribunal is of the considered opinion that mere pendency of Special Leave Petition (SLP) before the Hon'ble Apex Court cannot be a reason to take a different view. The judgment of Madras High Court is binding on all the authorities in the State of Tamil Nadu and Union Territory of Pondicherry. Therefore, the Commissioner of Income Tax (Appeals) has rightly allowed the claim of the assessee by following the binding judgment of Madras High Court in EXMO PRECISION CASTINGS [2009 (10) TMI 140 - MADRAS HIGH COURT] and M/S. HI TECH ARAI LIMITED [2009 (9) TMI 60 - MADRAS HIGH COURT Accordingly, we do not find any infirmity in the order of the Commissioner of Income Tax (Appeals) and upheld the same and the Revenue grounds are dismissed. The appeal of the Revenue is dismissed.
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