2006 (7) TMI 95

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..... ppellate Tribunal, Delhi Bench 'A' in ITA 3/Del/2002 relevant for the assessment year 1993-94. 2. For the relevant assessment year, the assessee filed its return claiming depreciation of Rs.50,000/- in respect of bio gas plant purchased from M/s.  Western Paques India Ltd.. The claim was accepted by the Assessing Officer in the assessment under Section 143(3) of the Act. Subsequently, a noti .....

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..... the Commissioner of Income Tax (Appeals) recorded several findings in favour of the assessee, which have been mentioned in paragraph 5 of the impugned order of the Tribunal. In the appeal, the Commissioner held in favour of the assessee and set aside the penalty proceedings. Feeling aggrieved, the Revenue preferred an appeal before the Tribunal, which has led to the impugned order being passed.&nb .....

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..... fact that more than five years had gone by between the original assessment and the re-assessment proceedings and it was under these circumstances that the assessee was unable to produce the Managing Director of the lessee company, that is, M/s. Western Paques India Ltd.. The Tribunal also noted that the Assessing Officer has merely stated after referring to the assessee's submission that the entir .....

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