TMI Blog2006 (8) TMI 171X X X X Extracts X X X X X X X X Extracts X X X X ..... ar with regard to gratuity, bonus etc. assessee not proved that staff was engaged in its business operation & not agricultural operation – sec. 14A would apply since substantial income was generated out of agricultural activity – assessee appeal dismissed - 626 to 629 of 2005 - - - Dated:- 1-8-2006 - ADARSH KUMAR GOEL and RAJESH BINDAL JJ. H. N. Mehtani for the appellant. JUDGMENT 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ose for which these were incurred ? Without prejudice to the above, whether, on the facts and in the circumstances of the case, the learned Income-tax Appellate Tribunal has committed an error of jurisdiction in holding that the depreciation on the assets located at the agricultural farm, but used for business purposes as well was not allowable deduction ?" 3. The assessee filed its return o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... April 6, 2005, which is assailed in the present appeal. 5. While rejecting the contention on both the issues raised by the assessee, the Tribunal recorded the following findings "2.3 We have heard the rival submissions and perused the record. We find that so far as the claim of the assessee on account of depreciation is concerned, on perusal of pages Nos. 6-9 of the paper book, it is evide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and not agricultural operation. Since substantial income was being generated out of agricultural from Hissar Farm, in our considered opinion, the provisions of section 14A will come into force, which says that no expenditure can be allowed in case corresponding income is exempt. We, therefore, keeping in view the above facts and circumstances of the present case, uphold the order passed by the Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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