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2015 (8) TMI 423 - KERLA HIGH COURT

2015 (8) TMI 423 - KERLA HIGH COURT - TMI - Reopening of assessment - installation of the Rotary Printing Press was not completed in the assessment year 1982-1983 and that therefore, the investment allowance and depreciation granted in the assessment order was irregular - Held that:- Facts are evident from the orders passed by the Commissioner and the Tribunal, which show that on import of the machinery, using local labour, the assessee had installed it. To prove that the Press was installed and .....

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sessee. We fully agree with the Tribunal on this finding. This therefore, shows that the fundamental basis on which the assessment was re- opened itself was untenable. If that be so, the Tribunal was justified in upholding the order of the Commissioner setting aside Annexure - A, the re-opened assessment order issued for the assessment year 1982-1983. Such being the case, we do not see any question of law arising in this appeal. - Decided in favour of assessee. - I.T.A. No.136 of 2008 - Dated:- .....

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Appeals) whereby the appeal of the assessee was allowed and Annexure-A assessment order was set aside. 2. Briefly stated the facts of the case are that the assessee company is engaged in printing and publishing of a newspaper by name 'Kerala Kaumudi'. In the assessment year 1982-1983, the assessee imported from Germany a Rotary Printing Press. This was installed by the assessee using local labour. On that basis, the assessee claimed investment allowance and depreciation in the assessment .....

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