TMI Blog2019 (6) TMI 305X X X X Extracts X X X X X X X X Extracts X X X X ..... Minerals Ltd [ 2017 (10) TMI 1458 - RAJASTHAN HIGH COURT] against the revenue. Permissibility of relief on account of the same transactions and whether that was capital in nature - HELD THAT:- Here to this Court decided in favour of the assessee by the judgment in Rajasthan State Mines Minerral Ltd. Vs. Assistant Commissioner of Income Tax [ 2017 (12) TMI 1698 - RAJASTHAN HIGH COURT] Depreciation or amortization of mining land and lease hold land, the assessee had not claimed in its return - This was the ground of rejection, the CIT (A) confirmed the AO s order - as urged on the strength of the authority of Supreme Court in Goetze (India) Ltd. Vs. Commissioner of Income Tax - [ 2006 (3) TMI 75 - SUPREME COURT] that in the absenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 crores which was denied on the ground that the assessee had not provisioned it in the books of accounts and it was not an ascertained liability. The issue stands covered by the judgment in D.B.Income Tax Appeal No.151/2016 decided on 13.10.2017 in assessee s case Principal Commissioner of Income Tax-II Vs. Rajasthan State Mines Minerals Ltd, against the revenue. 3. The third question is with respect to the permissibility of relief on account of the same transactions and whether that was capital in nature. Here to this Court decided in favour of the assessee by the judgment In D.B.Income Tax Appeal No.146/2016- Rajasthan State Mines Minerral Ltd. Vs. Assistant Commissioner of Income Tax decided on 13.12.2017. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 13.2. In that view of the matter, the contention of the assessee regarding depreciation u/s 32(ii) is required to be accepted, therefore, the second issue is answered in favour of the assessee and against the department. 6. In these circumstances, the Court is of the opinion that no question of law involved on this aspect. At the same time, this Court is of the opinion that since special leave petitions preferred by Revenue in respect of these four questions are pending before the Supreme Court, the parties would be bound by the final outcome of those petitions or appeals, as the case may be, and by the judgment of the Supreme Court. 7. The appeal is dismissed in the above terms. - - TaxTMI - TMITa ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
