TMI Blog2007 (8) TMI 327X X X X Extracts X X X X X X X X Extracts X X X X ..... ed:- 6-8-2007 - M. M. KUMAR and AJAY KUMAR MITTAL JJ. Yogesh Putney for the appellant. Pankaj Jain, Deepak Aggarwal, Ms. Rimpi and Prakul Khurana for the respondent. JUDGMENT The judgment of the court was delivered by M. M. Kumar J.- The Revenue has approached this court by filing the instant appeal under section 260A of the Income-tax Act, 1961 (for brevity, "the Act"), challenging order dated October 31, 2005, passed by the Income-tax Appellate Tribunal, Chandigarh Bench (A), Chandigarh (for brevity, "the Tribunal"), in ITA No. 388/Chandi/2001, in respect of the assessment year 1996-97. 2. The assessee derived income from manufacturing and sale of sugar, etc., and filed its return on September 26, 1996, for the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... neous nor prejudicial to the interests of the Revenue. 4. The Assessing Officer in pursuance of the order under section 263, passed another order of assessment under section 143(3) of the Act on November 1, 2002, against which the assessee preferred an appeal before the Commissioner of Income-tax (Appeals), Karnal, which was partly accepted vide order dated September 2, 2003. The Revenue went in appeal against the order dated September 2, 2003, before the Income-tax Appellate Tribunal, New Delhi, which is stated to be pending for adjudication. 5. Learned counsel for the Revenue submitted before us that the following question of law would arise in this matter for determination of this court : " Whether, on the facts and in the circ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... v. Ashima Syntex Ltd. [2001] 251 ITR 133. In the aforementioned case, under similar circumstances, a question of law as is sought to be emerged in the instant appeal, fell for consideration of the Gujarat High Court and it has been held that law does not require that there must be optimum production for granting the benefit. Law only requires that there must be use of plant and machinery for the purpose of business. The assessee in that case was held entitled to depreciation on the machinery. 8. We have thoughtfully considered the submissions made by learned counsel for the parties, examined the record with the assistance of learned counsel and are of the view that there is no merit in the instant appeal and the same is liable to be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per cent. of the amount calculated at the percentage prescribed under this clause in the case of block of assets comprising such asset : Provided also that, in respect of the previous year relevant to the assessment year commencing on the 1 st day of April, 1991, the deduction in relation to any block of assets under this clause shall, in the case of a company, be restricted to seventy five per cent. of the amount calculated at the percentage, on the written down value of such assets, prescribed under this Act immediately before the commencement of the Taxation Laws (Amendment) Act, 1991. Explanation 1.- Where the business or procession of the assessee is carried on in a building not owned by him but in respect of which the assessee h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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