2015 (7) TMI 1059 - AT - Income Tax

Rate of depreciation to be applied on WDV of windmill installed by the assessee - Depreciation @ 80% on WDV of windmill, which was installed on 29.03.2006

Summary

Issues involved:
1. Recalling the order of Tribunal in ITA No. 890/PN/2011 for assessment year 2007-08.
2. Adjudicating both the appeals of the Revenue and the assessee arising from the same order of the Commissioner of Income Tax (Appeals) together.

Detailed Analysis:
1. The Miscellaneous Application was filed by the assessee to recall the order of the Tribunal in ITA No. 890/PN/2011 for assessment year 2007-08. The assessee had also filed an appeal against the same order in ITA No. 814/PN/2011. Both appeals were listed before the Tribunal, where the appeal of the assessee was dismissed for non-prosecution. A subsequent Miscellaneous Application was filed by the assessee, which was allowed, and the appeal was directed to be listed for hearing. The Department confirmed that no appeal had been filed against the Tribunal's order, and they had no objection to recalling the order. The Tribunal, considering that both appeals arose from the same order, decided to recall the order of the Tribunal dated 31-12-2012 in ITA No. 890/PN/2011.

2. The Tribunal noted that the appeal of the Revenue and the appeal of the assessee were arising out of the same order of the Commissioner of Income Tax (Appeals) and needed to be adjudicated together. The appeal of the assessee was listed for hearing separately, and the Tribunal directed the registry to list both appeals together. Consequently, the Miscellaneous Application was allowed, and the order was pronounced in favor of recalling the Tribunal's order in ITA No. 890/PN/2011 for assessment year 2007-08.