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TMI Blog2018 (7) TMI 2095X X X X Extracts X X X X X X X X Extracts X X X X ..... the fact that the assessee was in business however could not run the factory in the year under consideration because of the stay order granted by the Court and even otherwise, the business of the assessee was continued, and therefore, the learned Tribunal allowed the claim of the assessee of depreciation under Section 32 by observing that it cannot be said that the assessee stopped /closed the bus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the liability and has not written off, no error has been committed by the learned Tribunal in deleting the addition made by the learned Assessing Officer under Section 41(1) on account of cessation of liability. - R/Tax Appeal No. 734 of 2018 - - - Dated:- 17-7-2018 - M. R. SHAH AND A.Y. Kogje, JJ. For the Appellant : Mrs. Mauna M. Bhatt. JUDGMENT M.R. Shah, J. Feelin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e following proposed questions of law; (a) Whether the Appellate Tribunal has erred in law and on facts in deleting the addition made on account of disallowance of depreciation of ₹ 34,03,491/- which is in contravention of the provision of Section 32 of the Act? (b) Whether the Appellate Tribunal has erred in law and on facts in deleting addition of ₹ 54,24,294 made u/s 41(1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fore, the learned Tribunal allowed the claim of the assessee of depreciation under Section 32 of the Income Tax Act by observing that it cannot be said that the assessee stopped /closed the business, we are in complete agreement with the view taken by the learned Tribunal. 3. Now so far as proposed question no.(b) is concerned, the same is squarely covered against the revenue in view of the dec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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