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2020 (2) TMI 1401 - AT - Income TaxHigher rate of depreciation on dumpers - appellant, engaged in the business of heavy earth moving equipments and vehicles for excavation of over burden (earth) and minerals and transporting the same to the specified place and also transportation of minerals from mines to power plants, transportation of ash from power plant to outside the plant - HELD THAT:- We have carefully considered the judgment passed by the Co-ordinate Bench in the case of DCIT vs. M/s. National Construction Co. [2015 (8) TMI 571 - GUJARAT HIGH COURT] wherein the identical set of facts particularly where the assessee is having identical mode of business depreciation @30% has been allowed by the Ld. CIT(A) have been upheld. Lumpsum disallowance of non-verifiable expenses - HELD THAT:- As it appears from the records that no specific defects in those vouchers of payment have been pointed out by the AO. He has only made reference to the fact that these expenses are in cash, vouchers are not reflecting complete details or that the rate or weight or that the name and address of the payee is not legible. While doing so, the Ld. AO failed to consider the nature of expenses which were made in cash particularly when those vouchers are prepared by the appellant for on-site expenses for the contractual hiring of machineries for removal of excavation and removal of earth materials. Neither it has been pointed out that claim of such expenses has distorted the profit ratio of the appellant in comparison to the earlier years, which particular aspect of the matter, has been duly taken care of the Ld. CIT(A) while deleting such addition which according to us, is just and proper and without any ambiguity so as to warrant interference. Hence, the order is passed in the affirmative i.e. in favour of the assessee.
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