2011 (1) TMI 1541 - AT - Income Tax

Summary

Issues involved: Appeal against deletion of depreciation claimed on windmill for assessment year 2007-08 u/s 143(3) of the Income-tax Act, 1961.

The Revenue filed an appeal against the order of the Commissioner(Appeals)-III, Chennai, deleting the disallowance of depreciation claimed on a windmill amounting to &8377; 3,87,06,802. The Commissioner(Appeals) relied on a previous order of the ITAT in the assessee's case for the assessment year 2006-07. The Revenue contended that the Tribunal's order had not been accepted and was under appeal before the High Court u/s 260A of the Income-tax Act, 1961. However, as of now, the High Court has not reversed the Tribunal's order, making it binding on the Commissioner(Appeals) and the co-ordinate Bench.

In the absence of any reversal by the High Court, the Tribunal found that the appeal filed by the Revenue was not sustainable. The Tribunal pronounced the order on January 13, 2011, in Chennai.