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2015 (11) TMI 489 - ITAT DELHI

2015 (11) TMI 489 - ITAT DELHI - [2015] 44 ITR (Trib) 116 (ITAT [Del]) - Expenses of building repair - revenue v/a capital expenditure - Held that:- By applying the ratio of judgement in the case of Kaira Distt. Cooperative Milk Producers Union Ltd. [1991 (6) TMI 63 - GUJARAT High Court] and Delhi Press Samachar Patra (P.) Ltd. (2010 (2) TMI 43 - DELHI HIGH COURT) the expenditure incurred by the assessee for water proofing work, fall in the category of current repairs and not the luxury repairs, .....

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r, it is a matter of common knowledge that the land, on which some industry is running, gets appreciated in terms of its value. So, no ground is made out to interfere into the order of Ld. CIT(A) in disallowance of depreciation on WEG land to the tune - Decided against assessee. - ITA No. 6633 /Del/2013 - Dated:- 13-10-2015 - T S Kapoor, AM And Kuldip Singh, JM For the Petitioner : Shri K Sampath, Raj Kumar, Adv. For the Respondent : Shri Amresh Bedi, Sr. DR ORDER Per Kuldip Singh, JM The appell .....

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sessee for the Assessment Year 2010-2011 showing loss of ₹ 5,78,03,649/-, was put under scrutiny assessment under CASS and consequently, statutory notices u/s 143(2) dated 19.09.2011 and 28.09.2011 and notice u/s 142(1) dated 21.08.2012 were issued. Shri F.A. Samsi, C.A. being AR of the assessee attended the proceedings, filed documents / evidences in support of his claim. 3. The assessee company is engaged in the field of power generation, consultancy services in power sector. From the pe .....

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as called upon to show cause as to why the same should not be capitalized being an expenditure of capital nature. Finding the reply dated 07.02.2013 not tenable, an amount of ₹ 7,96,187/- is added back to the returned income of the assessee and ₹ 88,465/- is allowed as depreciation @ 10% on building. 4. It has also been observed that during assessment proceedings for the year 2006-2007 to 2009-2010 depreciation claimed by assessee on WEGs land was disallowed. Assessee company has fil .....

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having been incurred on utter necessity and depreciation of ₹ 9,216/- on WEG land is also allowable. On the other hand, Ld. D.R. reiterated the contentions made before Ld. CIT(A) and relied upon the impugned order and prayed for dismissal of appeal. 7. We have heard the Ld. Authorized Representatives of the parties, have gone through the documents brought on record in the light of the facts and circumstances of the case. 8. A bare perusal of the impugned order passed by Ld. CIT(A) shows th .....

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