TMI Blog2005 (7) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... he assets leased out by the assessee? - authorities below rejected this claim on the ground that since the assessee had leased out the assets it could not be said that it used the assets itself. - Since, provision of section 32A(7), has not been looked into by the Tribunal or the lower authorities, the Commissioner of Income-tax (Appeals) will consider the assessee's claim in respect of section 32 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any registered under the Indian Companies Act, and the relevant assessment year is 1986-87. The assessee claimed extra shift depreciation allowance on the leased out assets. The authorities below rejected this claim on the ground that since the assessee had leased out the assets it could not be said that it used the assets itself. In Parkside Explosives and Industries Limited v. CIT [2005] 278 F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner of Income-tax (Appeals) and the Assessing Officer, and find that this submission is correct. There is no mention in any of these orders that the lessee had in fact worked multiple shifts. In the circumstances, while we set aside the impugned orders of the Tribunal and the Commissioner of Income-tax (Appeals) we remand the matter to the Commissioner of Income-tax (Appeals) for recording a f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s) will consider the assessee's claim in respect of section 32A(7) also. The appeals are allowed, the impugned judgments of the Tribunal and the Commissioner of Income-tax (Appeals) are set aside, and the matter is remanded to the Commissioner of Income-tax (Appeals) to pass a fresh order in accordance with law and in the light of the observations made above. - - TaxTMI - TMITax - Income Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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