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2021 (11) TMI 439 - HC - Income TaxDepreciation on machinery and equipments - Depreciation @ 25% or 100% - pollution control equipments used aqua culture purposes for providing healthy growth of prawn restricting pollution etc.-HELD THAT:- No evidence was led by the Assessee and no material was placed before the AO to indicate that it was using a specially designed ‘natural pond’ for rearing prawns. Therefore, the Court is not persuaded that on the basis of the above decision Victory Aqua Farm Ltd.[2015 (9) TMI 758 - SUPREME COURT], the conclusion reached on factual basis by the AO and CIT(A) concurrently and latter affirmed by the ITAT is erroneous. Even before this Court, learned counsel for the Assessee was unable to demonstrate why the depreciation on the equipments in question should be allowed @ 100% and in respect of ‘approach road, drainage, bore wells, reservoir etc.” it should be 25% and not 100%. Question II framed by this Court is answered in the affirmative i.e. in favour of the Revenue and against the Assessee - As held that the ITAT was right in restricting the claim for depreciation on the equipments in question @ 25% as against 100% as claimed by the Assessee. Road, drainage, bore-well, reservoir etc on which claim for depreciation made @ 25% holding as per schedule holding them as plant etc. can it be reduced to 10% - Question III is again answered in favour of the Revenue and against the Assessee by holding that the claim for depreciation @25% on approach road, drainage, bore wells and reservoirs etc. is not admissible and that the ITAT has rightly limited it to 10%.
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