TMI Blog2022 (9) TMI 507X X X X Extracts X X X X X X X X Extracts X X X X ..... building was used for official-cum-residential purpose by the Managing Director with all office facilities and therefore, the assessee was entitled to depreciation @ 10% and directed AO to allow the same. HELD THAT:- In view of our order of even date passed in [ 2022 (9) TMI 376 - GUJARAT HIGH COURT] with regard to the issue of disallowance under section 14A and considering the finding of fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edabad [for short the Tribunal ] in ITA No. 644/Ahd/2010 for A.Y. 2007-08. 2. The Tribunal passed a common order dated 28.02.2022 for A.Ys. 2003-04, 2006-07, 2007-08 and 2008-09 in case of the assessee-Gujarat Industries Power Company Limited in appeals and cross-objections filed before it. So far as present appeal is concerned, the following substantial questions of law are proposed: (a) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts and in the circumstances of the case and in law, the Hon ble ITAT is justified in deleting the addition of Rs. 3,18,126/- made on account of disallowance of claim of depreciation on Managing Director s residence, without appreciating the fact that as per the Income Tax Rules the buildings which are used mainly for residential purpose except hotels and boarding houses are eligible for depreciati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /- Total disallowance Rs. 43,44,517/- 4. The Assessing Officer also disallowed depreciation of Rs. 3,18,126/- claimed by the assessee on Managing Director's residence. 5. Being aggrieved by the order passed by the Assessing Officer, the assessee preferred an appeal before the CIT (Appeals), who confirmed the additions. The assessee ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A of the Act, 1961 and considering the finding of fact given by the Tribunal with regard to use of the building for office-cum-residential purpose by the Managing Director, we do not find any infirmity in the impugned order of the Tribunal as no question of law much less any substantial question of law proposed or otherwise arises therefrom. The appeal is accordingly dismissed. - - TaxTMI - TM ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
