TMI Blog2016 (6) TMI 1350X X X X Extracts X X X X X X X X Extracts X X X X ..... MI 883 - ITAT MUMBAI] wherein on similar facts the Tribunal had restored the issue to the Assessing Officer to make suitable adjustment in view of M/s. Siro Clinpharm Pvt. Ltd. who conduct clinical trials on its own. No substantial question of law. Depreciation on the assets of the assessee's Ankleshwar plant - the said assets had not been used by the assessee company - HELD THAT:- It is agreed position between the parties that the issue stands concluded against the Revenue in respect of same respondent – assessee relating to assessment year 2001-02. No substantial question of law. - Income Tax Appeal No.2181 Of 2013 - - - Dated:- 27-6-2016 - M. S. Sanklecha And A.K. Menon , JJ. Mr. Arvind Pinto for the appellant. Mr. Atul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t was rightly included by the TPO in the cost because if the assessee company had applied its funds elsewhere, instead of giving interest free deposit, it would have generated some income which would have had impact on its overall profitability ? (iii) Whether on the facts and circumstances of the case and in law, the Tribunal was justified in directing the Assessing Officer to allow depreciation on the assets of the assessee's Ankleshwar plant without appreciating the fact that the said assets had not been used by the assessee company ? 3. Regarding question no.(i) : We find that the impugned order of the Tribunal has in fact accepted the Revenue's contention before it that M/s. Siro Clinpharm Pvt. Ltd. is to be used for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (A)], decided this very issue in favour of the respondent-assessee. The Revenue has accepted the above order of CIT (A) and not challenged it before the Tribunal. In the above view, as the Revenue is not pressing question no.(ii), no substantial question of law for our consideration cannot arise. Accordingly, question no.(ii) is not entertained. 5. Regarding question no.(iii) : It is agreed position between the parties that the issue stands concluded against the Revenue by virtue of the decision of this Court dated 23rd October, 2012 in Income Tax Appeal No.6776 of 2010 filed by the Revenue in respect of same respondent assessee relating to assessment year 2001-02. In the above view, question no.(iii) as formulated does not give ris ..... X X X X Extracts X X X X X X X X Extracts X X X X
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