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2017 (5) TMI 246 - AT - Income TaxDepreciation on electrical fittings - Held that:- As decided in assessee’s own case for AY 2006-07 the electrical installations formed an integral part of the assessee's plant, therefore, depreciation was allowable at the rate applicable to plant and machinery. We are also of the considered view that electrical installation is integral to the plant and machinery used for manufacturing steel and as the Assessing Officer has not controverted the contentions of the assessee company hence, Ld. CIT(A) has rightly directed the AO to allow depreciation on electrical installations @ 15% i.e. the rate applicable to 'plant & machinery'. MAT computation - calculation of Book Profit u/s 115JB on account of the additions representing the disallowance on excess depreciation on UPS/electrical installation - Held that:- CIT(A) after considering the submissions of the assessee and the ratio laid down by the Hon’ble Apex Court in the case of M/s Apollo Tyres Ltd. Vs CIT (2002 (5) TMI 5 - SUPREME Court) decided the issue in assessee’s favour. In our opinion, the impugned order does not require any interference on our part when the issue has been decided by the ld. CIT(A) by following the ratio laid down by the Hon’ble Supreme Court
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