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2020 (11) TMI 97 - HC - Income TaxAllowable deduction u/s 37 - expenditure incurred towards revamping of visbreaker unit which was abandoned - Tribunal disallowed deduction - HELD THAT:- As perused the findings recorded by the Tribunal and find that the Tribunal rightly reverse the order passed by the Commissioner of Income Tax ['CIT(A)' for brevity] on this aspect. The Tribunal took note of the decision of the Hon'ble Supreme Court of India and arrived a finding against the assessee, We find no grounds to interfere with the said finding. Accordingly, the Substantial Question of law No.1 is answered against the assessee. Grant of depreciation on the repair charges incurred on Vis Breaker - HELD THAT:- Having held that the deduction is not allowable under Section 37 of the Act with regard to the expenditure incurred for revamping of vis-breaker Unit. The Tribunal ought to have considered the claim for consideration at vis-breaker Unit. Though there is a reference made to the said submission of the assessee, We find that there is no specific finding rendered by the Tribunal on that record. That apart, We find that such a claim for depreciation was not made by the assessee before the Assessing Officer or before the CIT(A) as an alternate submission and it was raised only before the Tribunal. Therefore, We are inclined to grant liberty to the assessee to raise that issue before the Assessing Officer which can be considered in accordance with law. Depreciation on gas sweetening plant - HELD THAT:- Issue decided in favour of assessee in own case [2013 (8) TMI 525 - MADRAS HIGH COURT] wherein held on the admitted case that business was a going concern and the machinery could not be put to use due to raw material paucity, we reject the Revenue's contention, thereby, confirm the majority view of the Income Tax Appellate Tribunal.
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