9911796707
TMI Blog2012 (6) TMI 712X X X X Extracts X X X X X X X X Extracts X X X X ..... an allowable expenditure. Depreciation to be provided at 60% and not 15% on computer peripherals. Depreciation on emergency spare parts - dis allowance on ground that emergency spares had not been used - Held that:- Emergency spares are entitled to depreciation in terms of the decision in Capital Bus Services (P) Ltd. v. CIT (1980 (2) TMI 69 (HC)). Tribunal rightly held that depreciation was allowable to the assessee on the principle of passive user - Decided in favor of assessee. - ITA 373/2012, ITA 374/2012, ITA 375/2012 And ITA 376/2012 - - - Dated:- 31-5-2012 - Sanjiv Khanna And R V Easwar JJ. For Appellant: Mr. Deepak Chopra, Sr. Standing Counsel with Mr. Harpreet Singh Ajmani, Advocate. JUDGEMENT These appeals und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d, Indian Oil Corporation Ltd. and Transport Corporation of India Pvt. Ltd. Even with respect to the said companies the Assessing Officer observed and held that the transactions were bogus. Even the transactions with the two PSUs were held to be bogus. The said inference was drawn because there was no response/ reply to the notice under Section 133(6) of the Act. However, the Assessing Officer did not take any action against the said parties. Other than the failure of the sundry creditors to respond, no further investigation or enquiries were made. We also find that the application filed by the assessee under Rule 46A for admission of additional evidence was dismissed by the first appellate authority in the assessment year 2003-04 but was p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . After examining the bill/ services rendered, the finding recorded by the Tribunal is as under: "Assessee duly explained that when these bills were received by the assessee, the liability crystallized. It has not been disputed that the services were rendered and there is no adverse finding about the bills or the liability having been communicated to the assessee earlier. It is further evident from the record that part of the bill was April 2002 and the balance was in March 2003. The assessee received the bills in March 2003 and by general entry entered the liability. Since the consultancy report was completed in March 2003, therefore, it is properly recorded. It is evident that the consultancy bills were raised by way of two bills i.e. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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