TMI Blog2011 (10) TMI 495X X X X Extracts X X X X X X X X Extracts X X X X ..... DELHI High Court] where vehicle was owned and used by the assessee but no registration was done in its name then the assessee would still be entitled to depreciation on such vehicle - Decided in favor of the assessee. Deduction u/s 80-IB - Held that:- The process of crushing, grinding and sieving FMA slabs into lumps, chips and powder creates three end products which have different physical shapes, different chemical composition of iron, molybdenum and silicon and have different chemical properties such as different melting points and are used by different industries. Their use is not interchangeable, in the place of lumps, chips or powder or slabs as such cannot be used. These end products are known by different names in commercial worl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er considering the case of Deputy CIT v. Harjivandas Juthabhai Zaveri [1999 (12) TMI 5 - GUJARAT HIGH COURT] - in favour of assessee by way of remand. - I. T. A. No. 2773/Ahd/2009 - - - Dated:- 31-10-2011 - Mukul Kr. Shrawat, A. N. Pahuja, JJ. Alok Johri for the Department S. N. Soparkar with Jaimin Gandhi for the Assessee ORDER Mukul Kr. Shrawat, Judicial Member:- An appeal of the Revenue and the cross-objection of the assessee have emerged from the order of the Commissioner of Income-tax (Appeals)-VIII, Ahmedabad, dated June 15, 2009. (A) Grounds raised by the Revenue are hereby decided as follows:- Ground No. 1 reads as under:- The learned Commissioner of Income-tax (Appeals) has erred in law a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such by the appellant, in view of the decision in the case of Mysore Minerals Ltd. [1999] 239 ITR 775 (SC) referred to above and other decisions cited by the learned authorised representative, I hold that the disallowance made by the Assessing Officer on this ground is not justified and hence the same is directed to be deleted.' 22.2 In the present case it is not disputed that investment was made by the assessee in purchase of the motor car. It is shown as asset in the balance-sheet of the company. If expenditure for running the vehicle was incurred by the assessee, the assessee is de facto owner of the vehicle. It is not disputed that it was used for the purpose of business of the assessee company. The hon'ble Rajasthan High Court in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee is doing at Silvasa is manufacturing. For arriving at this conclusion we need not go into the disputed issue as to whether the assessee is having any laboratory or testing facility at Silvasa or whether raw material as such was directly imported to Silvasa or was directly taken to Ahmedabad. In brief, the process of crushing, grinding and sieving FMA slabs into lumps, chips and powder creates three end products which have different physical shapes ; different chemical composition of iron, molybdenum and silicon and have different chemical properties such as different melting points and are used by different industries. Their use is not interchangeable, in the place of lumps, chips or powder or slabs as such cannot be used. These end pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ht to have ordered for granting that deduction to the respondent. The first item of adjustment is excise income and in this regard vide paragraph No. 21.2, vide the order cited supra, it was decided as under:- 21.2. We have heard the parties. The issue is now covered by the decision of the hon'ble Delhi High Court in the case of CIT v. Dharam Pal Prem Chand Ltd. [2009] 317 ITR 353 (Delhi) wherein it is held that the refund of excise duty was pivoted on the manufacturing activity carried on by the assessee. The assessee at the time of payment of excise duty, debited it in the profit and loss account and upon receipt of refund credited the profit and loss account. The net effect would be nil and, therefore, there is no reason to exclu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT v. Sportking India Ltd. [2010] 324 ITR 283 (Delhi) wherein it is held that if the assessee receives insurance on damages there is definitely a nexus to the business. The compensation amount received by the assessee-company from insurance company has to be taken into account in determining the profits and gains of industrial undertaking. Accordingly this part of the claim of the assessee is allowed." In respect of the fourth item pertaining to miscellaneous income received from sale of non-excisable waste material, we have noted that the requisite details were not examined by the Assessing Officer and merely stated that the said income was to be excluded for the purpose of computing the deduction under section 80-IB, resultantly, th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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