TMI Blog2013 (5) TMI 856X X X X Extracts X X X X X X X X Extracts X X X X ..... company is treated as allowed for statistical purpose. - ITA No. 2789/Mum/2012 - - - Dated:- 13-5-2013 - Shri D. Manmohan, Vice President and Shri Rajendra, Accountant Member For the Appellant : Shri T.M. Gosher For the Respondent : Shri Mohit Jain ORDER Per D. Manmohan, V.P. This appeal filed at the instance of the assessee is directed against the order dated 27.01.2012 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d machinery after September, 2007. For the previous year relevant to A.Y. 2008-09 the plant and machinery having been put to operation for less than 180 days the company claimed only 50% of the rate of additional depreciation and the balance 50% was claimed in the previous year relevant to A.Y. 2009-10, which is the year under consideration. The AO as well as the CIT(A) were of the opinion that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aggrieved, assessee is in appeal before us. The learned counsel for the assessee placed reliance upon the following decisions of the ITAT Delhi Bench in support of his contention that there is no embargo in claiming deduction in the second year so long as complete depreciation was not allowed in the first year: - i. DCIT vs. Cosmo Films Ltd. 139 ITD 628 (Del) ii. ACIT vs. Sil Investment Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aspect though he strongly relied upon the orders passed by the tax authorities. 7. We have carefully considered the rival submissions and perused the record. In the light of the above decisions of the ITAT Delhi Bench (supra) we hold that the assessee is entitled to depreciation in the subsequent year if the entire depreciation is not allowed in the first year of installation. With this observ ..... X X X X Extracts X X X X X X X X Extracts X X X X
|