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2017 (11) TMI 992 - AT - Income TaxClaim of depreciation - there was no working during the year - Held that:- As during the year under consideration the assessee has business receipts in the nature of sales in the preceding as well as subsequent years and it has made purchases during the relevant previous year and in the earlier year as well as subsequent years, except F.Y. 2011-12. Also found that the purchase invoice for the relevant P.Y. and the Sales invoice for the Preceding P.Y. bore the address of the said Bandra premises. Thus, the presumption drawn by the assessing officer that asset was not put to use is baseless. The asset was already a part of the block. Also, depreciation on the said building premises was allowed in A.Y. 2012-13 which is the assessment year relevant to the year of purchase. Furthermore, detailed finding recorded by CIT(A) at para 6 has not been controverted by bringing any positive material on record. The issue under consideration is also covered by the decision of Bombay High Court in case of G.N. Agarwal [1993 (8) TMI 5 - BOMBAY High Court]. Appeal of the revenue is dismissed.
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