TMI Blog2007 (3) TMI 625X X X X Extracts X X X X X X X X Extracts X X X X ..... n in respect of machinery of Rs. 11,28,400 (and related capitalized expenses aggregating to Rs. 1,21,000) claimed to have been installed and put to use by the assessee in the relevant previous year. 3. The assessee appeared in person and made his efforts to explain the aforesaid grievance and relevant facts of the case. However, since the assistance offered by the assessee was inadequate and as the assessee expressed his inability, on account of difficult financial position that he is said to be traversing through, to hire a legal counsel to present his case, we requested Shri Prakash Jotwani, learned advocate who was present in the Court room when this hearing was in progress, to assist us as an amicus curiae . Shri Jotwani not only r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essing Officer was not satisfied with the evidences of payment so far as commission on purchases and machinery installation was concerned. After making elaborate discussions about the related facts, the Assessing Officer disallowed the same. The transportation charges were allowed to the assessee as the fact of the machine having been brought to Mumbai was free from doubt. However, as regards octroi payment, the Assessing Officer only accepted the claim of Rs. 35,802, on the basis of actual payment, and not the entire amount of Rs. 49,000 as claimed by the assessee. The value of machinery was thus recalculated by the Assessing Officer at Rs. 8,43,402 as against the claim of Rs. 12,49,000. Even on this value, depreciation was disallowed by o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... preciation on printing machinery. The authorities below, in our considered view, erred in rejecting the claim of depreciation. We, therefore, uphold the grievance of the assessee and direct the Assessing Officer to allow proper depreciation on the printing machinery purchased by the assessee. However, as we do so, we must also address ourselves to the question as to on what value of machinery is admissible. We have taken note of the fact that as against assessee s claim of purchase price of Rs. 11,28,400, value of the machinery is to be taken at Rs. 7,95,600 on the basis of valuation for octroi. We are unable to approve this stand of the authorities below. Simply because an assessee pays octroi on the basis of valuation of Rs. 7,95,600, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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