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2019 (7) TMI 14 - AT - Income TaxDepreciation on wheel loaders and wheel graders - @ 40% OR 25% - plant and machinery - HELD THAT:- As decided in case of M/s. Quippo Construction Equipment Ltd [2019 (6) TMI 1343 - ITAT HYDERABAD] moreover the wheel loaders and Graders are Motor vehicles and is certainly eligible for depreciation at 40% as per schedule and the case law on the subject. In view of this, no reason to interfere with the well reasoned order of the CIT(A), both on the issue of reopening and as well as allowance of depreciation at 40% on wheel loaders. Tribunal in the case of Ansari Holdings & Investments (P) Ltd vs. DCIT [2006 (3) TMI 670 - ITAT HYDERABAD] wherein mobile cranes registered as heavy motor vehicles were held to would fall within the expression of “motor lorries” and hence eligible for depreciation @ 40%. Disallowance of claim of leave encashment on provision basis - HELD THAT:- Though the issue is covered in favour of the assessee by the decision of the Hon'ble Calcutta High Court in the case of Exide Industries Ltd vs. Union of India [2007 (6) TMI 175 - CALCUTTA HIGH COURT] and the Coordinate Bench of the Tribunal in the case of DCIT vs. A.P Seeds Development Corporation Ltd [2014 (3) TMI 1004 - ITAT HYDERABAD] has followed the same to hold that the provisions made towards leave encashment is allowable as a deduction, he submitted that the decision of the Hon'ble Calcutta High Court has been stayed by the Hon'ble Apex Court [2008 (9) TMI 921 - SC ORDER] and the issue is pending for adjudication. He prayed that the issue may be remanded to the file of the AO to pass the final order after the Apex Court decides the issue - we deem it fit and proper to remand the issue to the file of the AO with a direction to give effect to the Hon'ble Supreme Court’s decision in the case of Exide Industries Ltd (Supra). Thus, ground treated as allowed for statistical purposes
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