TMI Blog2012 (1) TMI 238X X X X Extracts X X X X X X X X Extracts X X X X ..... s filed an appeal against order of ld CIT(A)-II, Jaipur dated 20/06/2011. The ground of appeal is as under: On the facts and in the circumstances of the case and in law the Ld. CIT(Appeals) has erred in deleting addition of ₹ 38,60,680/- made by the AO by way of disallowance of excess depreciation claimed on Wind Turbine holding that depreciation @80% has to be allowed on complete Wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uments advanced by both the parties. We noted that the AO allowed 80% depreciation only on the cost of windmill plant i.e. ₹ 2.04 crores and on the balance amount allowed depreciation either @ 10% or 25% considering the same as building or plant and machinery. The Hon ble Madhya Pradesh High Court in the case DCIT vs Vippy Solvex Products Ltd 164 Taxman 483 held in the case of automatic coal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he addition made by the A.O. Thus Ground No. 2 of the Revenue is dismissed. Following that order of the Tribunal, we hold that the ld.CIT(A) was justified in disallowing the addition made by the AO on account of excess claim of depreciation to the extent of ₹ 36,39,773/-. 3. Following our order in the case of assessee which was formerly Chirash Associates P. Ltd., we hold the ld CI ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
