2010 (8) TMI 67

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..... ese two appeals relate to the assessment years 1997-98 and 1998-99 and arise out of common order dated 9th December, 2005 passed by the Income Tax Appellate Tribunal (hereinafter referred to as „the Tribunal) dismissing the appeals of the revenue in respect of both the assessment years. 2. In so far as the assessment year 1997-98 is concerned, the issue relates to the depreciation allowance on ce .....

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..... as allowed. However, in respect of factory building, plant and machinery and self fabricated machinery, vouchers to the extent of Rs.41,19,260/-, Rs. 1,66,64,271/- and Rs.1,66,64,271/- respectively, could not be produced by the assessee. For want of the vouchers, the Assessing Officer disallowed depreciation on these assets to the extent of Rs. 87,52,367/-. We may note at this stage itself that in .....

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..... by the assessee in purchasing of those "fixed assets". There is also no discussion as to how the two authorities below came to the conclusion that these "fixed assets" were to be used in the assessment year under consideration. 6. For this reason alone, we set aside the impugned orders passed by the CIT (Appeal) as well as ITAT and remit back the case to CIT (Appeals) to consider the aforesaid as .....

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