TMI Blog2010 (9) TMI 238X X X X Extracts X X X X X X X X Extracts X X X X ..... ciation on capital assets, when capital expenditure relating to acquisition of such assets had already been allowed as "application of income" for the purpose of allowing exemption under section 11 of the Income Tax Act, 1961 - Held that: - that identical appeal of the revenue being I.T.A. No.138 of 2010 CIT v. Market Committee, Ladwa has been dismissed by Court - Appeal is dismissed - 439 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 003 of the Haryana Government that principal amount of FDRs of market Committees with HSEB be returned to the concerned Market Committees, but ignoring the remaining part of the communication which says that the matter regarding interest on these deposits will be considered after repayment of principal, which means that right of interest on the advance/deposit made by the assessee with HSEB did no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n on capital assets, when capital expenditure relating to acquisition of such assets had already been allowed as "application of income" for the purpose of allowing exemption under section 11 of the Income Tax Act, 1961 and as such further allowing of depreciation on these capital assets will amount to double deduction for the same expenditure? iv) Whether allowing of depreciation on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as it is clear from the audit report and final account, the assessee had followed mixed system of accounting and not cash system? vi) Whether on the facts and in the circumstances of the case, the Ld. ITAT is right in law in restoring the issue to the file of assessing officer for a fresh decision in terms of decision of Bombay High Court reported in 264 ITR 110 without examining the issu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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