TMI Blog2014 (7) TMI 1216X X X X Extracts X X X X X X X X Extracts X X X X ..... of ICDS Ltd. (2013 (1) TMI 344 - SUPREME COURT) which represents the law of the land stating assessee entitled to claim depreciation in respect of additions made to assets which were leased out. Further, the A.O. shall also, make the consequential adjustments, so that, while allowing due relief, double benefit is not extended to the assessee, even as cautioned by the tribunal in its own case for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inance lease , the lessor is eligible to claim the deprecation under the Act. Accordingly, it is claimed that the impugned order be recalled in-as-much as it is inconsistent with the said decision by the court, and the assessee s appeals decided afresh in light thereof. In fact, on similar petitions being moved by the assessee for the preceding years, i.e., A.Ys. 1995-96 to 1997-98 (in MA Nos. 420 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e apex court (since reported at [2013] 350 ITR 527 (SC)), it bears the mistake apparent from the record. The same is, therefore, liable to recalled, and we direct accordingly. The assessments in the instant case are accordingly directed to be completed by the A.O., i.e., qua the issue of sale and lease back of the assets under reference, in light of and following the decision by the apex court in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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