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2016 (10) TMI 354 - GUJARAT HIGH COURT

2016 (10) TMI 354 - GUJARAT HIGH COURT - TMI - Eligibility to depreciation claim - Electrical installation treated as “Plant and Machinery” - Held that:- The controversy raised in this case stands settled by a Division Bench judgment of this Court in the case of Commissioner of Income tax v. Express Resorts & Hotels Ltd., [2014 (12) TMI 1256 - GUJARAT HIGH COURT] wherein it has been held that electrical installations and sanitary fittings should be regarded as “Plant” for the purpose of deprecia .....

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VOCATE FOR MRS SWATI SOPARKAR, ADVOCATE FOR THE OPPONENT JUDGMENT ( PER : HONOURABLE MR.JUSTICE KS JHAVERI ) 1. This Tax Appeal is filed under Section 260A of the Incometax Act, 1961 challenging the order dated 20.10.2006 passed by the Income Tax Appellate Tribunal, Ahmedabad Bench D in ITA No.881/Ahd/2006 raising the following substantial question of law: (a) Whether on the facts and circumstances of the case, the ITAT is justified in law in treating the electrical installation as Plant and Mac .....

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sessee, as against the admissible rate of 15%. 3. The assessment finalized by the Assessing Officer resulted into under assessment of income to the extent of ₹ 79,40,920/due to incorrect allowance of depreciation. The assessment was, therefore, held as erroneous vide order passed u/s.263 of the Act passed by the CIT(A) and the Assessing Officer was directed to verify the assessee s claim afresh. 4. The assessee challenged the order u/s.263 of the Act before the Tribunal by filing second ap .....

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