9911796707
TMI Blog2016 (11) TMI 1543X X X X Extracts X X X X X X X X Extracts X X X X ..... is arising out of the order of CIT (A)-24, Mumbai in appeal No. CIT(A)-24/DCIT-10(3)/IT-303/13-14 dated 30-12-2014. The Assessment was framed by DCIT-10(3), Mumbai for the A.Y. 2011-12 vide order dated 13-01-2014 under section 143(3) of the Income Tax Act, 1961 (hereinafter 'the Act'). 2. The only issue in this appeal of Revenue is against the order of CIT(A) in allowing depreciation on ATM @ 60% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nces of the case the ITAT was right in holding that depreciation on UPS is allowable @ 60% ignoring the fact that UPS is an electrical appliance for temporary supply of electricity therefore is ITA No. 1494/Mum/2015 in nature of plant and machinery and therefore, depreciation should be provided @ 15%." And discuss the facts as under: - "The respondent assessee is a subsidiary of Saraswant Co. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n software license on the ground that the same was not put to use in the previous year to the A.Y. 2008-09. Consequently, the excess claim of depreciation made by the respondent assessee was disallowed." 4. And final answer above question in favor of assessee as under: - "We note that the Tribunal has arrived at a finding of fact on all the three questions. The revenue has not been able to sho ..... X X X X Extracts X X X X X X X X Extracts X X X X
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