2008 (11) TMI 364

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..... Revenue has preferred this appeal under section 260A of the Income-tax Act, 1961 (in short, "the Act"), against the order of the Income-tax Appellate Tribunal, Chandigarh Bench "A" Chandigarh passed in I. T. A. No. 787/Chandi/2002 dated June 27, 2005, for the assessment year 1996-97, proposing to raise substantial questions of law : "(i) Whether on the facts and law, the hon'ble Income-tax Appel .....

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..... r depreciation was allowed to the extent of increase in price due to fluctuation in foreign exchange rates resulting in increase in the price of the machinery. The Assessing Officer held that since actual payment was not made for the increased price, the assessee was not entitled to the said benefit. 3. The Commissioner of Income-tax (Appeals) allowed the claim of the assessee on both the counts, .....

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..... e order of the Commissioner of Income-tax (Appeals) in having directed the Assessing Officer to give effect to the provisions of section 43A. . 5. We have heard learned counsel for the appellant. 6. As far as question No. (i) is concerned, there is nothing to show that order on which the impugned order is based has been challenged by the Revenue. Moreover, it cannot be held that merely because t .....

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