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TMI Blog2011 (11) TMI 440X X X X Extracts X X X X X X X X Extracts X X X X ..... authority comes to the conclusion on the basis of the material on record that would be produced by the assessee that the said acquisition is subsequent to the block assessment, the depreciation can be granted in regular assessment - Decided partly in favor of assessee. - IT Appeal No. 889 of 2006 - - - Dated:- 16-11-2011 - V.G. Sabhahit and S.N. Satyanarayana, JJ. M.V. Seshachala for the Appellant. Smt. S.R. Anuradha for the Respondent. JUDGMENT 1. This appeal is filed by the revenue being aggrieved by the order passed in ITA. No. 1059/Bang/2003 dated 23.12.2005. 2. The substantial question of law raised for consideration in this appeal, is as under: "Whether the Tribunal was correct in holding that the assessee w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd since the depreciation had been allowed in the earlier assessment year disallowance of the depreciation was erroneous Accordingly, dismissed the appeal filed by the revenue and allowed the appeal filed by the assessee and being aggrieved by the same this appeal is filed by the revenue. 5. It is the contention of the learned Counsel appearing for the appellants that though the assessee may be entitled to depreciation in respect of the plant and machinery leased, but having regard to the provisions of Section 32 of the Income-tax Act the Written Down Value for the period, depreciation for which claimed, can be arrived at only after ascertaining the WDV at the end of the block period. Wherefore, the learned counsel submitted that the or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of acquisition was 1997-98 and in the absence of any material to show the date of acquisition of the property and the fact that the said acquisition was made beyond the block period. Hence, the order of the Tribunal cannot be sustained. Having regard to the fact that the question of block assessment is pending before the first appellate authority, we deem it appropriate that the matter could be remanded to the first appellate authority after setting aside the order of the ITAT. The contention as to whether the acquisition of plant and machinery in respect of which depreciation is now claimed for the assessment year 1998-1999 is covered in the block assessment or should be in the regular assessment is kept open to be urged as the assessee ha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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