TMI Blog2019 (8) TMI 550X X X X Extracts X X X X X X X X Extracts X X X X ..... , after claiming depreciation for 6-7 years old windmills, where there is possibility of obsolete technology, would fetch such a higher cost. Hence we are of the considered opinion that the assessment order passed under section 143(3) of the Act is erroneous and prejudicial to the interest of Revenue. Under these facts and circumstances, the ld. PCIT has rightly invoked the provisions of section 263 of the Act and directed the Assessing Officer to re-do the assessment afresh after verification of the issues and we find no reason to interfere with the order passed by the ld. PCIT. Thus, the ground raised by the assessee stands dismissed. - I.T.A.No.1747/Chny/2018 - - - Dated:- 26-6-2019 - Shri Duvvuru RL Reddy, Judicial Member And ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... objections, if any. After considering the objections of the assessee, ld. PCIT directed the Assessing Officer to re-do the assessment afresh after verification of the issues since the assessment order passed under section 143(3) of the Act is erroneous and prejudicial to the interest of the Revenue. 4. Aggrieved, the assessee is in appeal before the Tribunal. The ld. Counsel for the assessee has submitted that the ld. PCIT has erred in directing the Assessing Officer to re-do the assessment on the ground that the depreciation on wind mills allowed at 80% was without verification of facts and without proper enquiry and prayed for quashing order passed under section 263 of the Act 5. Per contra, the ld. DR st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l of the assessment order, we find that the assessment order is very cryptic. It may be evident that the windmills were transferred in the name of the assessee on 25.05.2012. In this case, the Assessing Officer has not examined/determined the WDV of old windmills against which huge amount of depreciation was allowed against the claim of the assessee. What was the actual cost of the windmill was not brought on record and otherwise also, after claiming depreciation for 6-7 years old windmills, where there is possibility of obsolete technology, would fetch such a higher cost. Hence we are of the considered opinion that the assessment order passed under section 143(3) of the Act is erroneous and prejudicial to the interest of Revenue. Under the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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