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2018 (1) TMI 327 - AT - Income TaxEntitlement for depreciation relating to its leased assets - Held that:- Learned Departmental Representative fails to dispute all the intervening developments during the pendency of instant lis. We therefore adopt consistency to affirm CIT(A)’s findings under challenge in both these assessment years holding the assessee entitled for depreciation relating to its leased assets. The relevant issue is adjudicated in assessee’s favour accordingly. Carry forward MAT credit of earlier years - It is clear from the above extracted lower appellate findings that the CIT(A) has directed the Assessing Officer to grant MAT credit to the assessee subject to factual verification of earlier years’ records. We do not see any injustice or prejudice caused to the Revenue more particularly in view of the fact that both parties have been litigating in preceding assessment year as well (supra) qua various issues. We therefore affirm CIT(A)’s findings under challenge qua the instant latter issue as well.- Decided against revenue
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