Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (10) TMI 130 - AT - Income TaxCIT-A power to set aside the issue - CIT(A) directing the AO to verify the claim of depreciation in regard to lease assets - Held that:- This issue has already been adjudicated by the Tribunal in AY 1996-97 [2018 (5) TMI 39 - ITAT MUMBAI] wherein Tribunal after considering the issue in detail has allowed the claim of the assessee dismissing the Revenue’s appeal and confirm the order of the Ld. CIT(A) in holding that assessee is eligible to claim depreciation from sale and lease back assets in respect of the transactions other than Nath Pulp & Paper Mills Ltd. To put an end to the litigation in this case as the matter is very old and relates to the A.Ys. 1996-97, we sustain the order of the CIT(A) partly as indicated above and the claim of the assessee is directed to be allowed as per the observations of the Ld.CIT(A) without any further verification by the Assessing Officer. - Decided in favour of assessee.
|