9911796707
TMI Blog2012 (10) TMI 224X X X X Extracts X X X X X X X X Extracts X X X X ..... is is Revenue's appeal and the assessee's CO directed against the order of the Commissioner of Income Tax (Appeals)-XI, Ahmedabad dated 31.10.2011 for the assessment year 2007-2008. ITA No.3317/Ahd/2011 (Revenue's appeal) 2. The only ground raised in this appeal of the Revenue reads as under: "1. The ld.CIT(A) has erred in law and on facts in deleting the disallowance of excess claim of deprec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... art needs verification by the AO. The learned counsel for the assessee has opposed the submissions of the learned DR. He submitted that as per the provisions of the Act, depreciation at the rate of 80% is allowable on the entire device which is capable of generating electricity using the wind energy. He submitted that the civil and electrical works are necessary for the installment of the windmill ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e decisions of the High Courts while deciding the issue in favour of the assessee. Accordingly, the ground taken in the appeal of the Revenue with regard to the depreciation and additional depreciation on the foundation, civil & electrical works, installation, payment to GEDA is dismissed. However, with regard to depreciation on the capitalized interest, there is no finding in the orders of the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate submissions filed and the legal position laid down by various courts of law including the Hon'ble Apex Court in the case of CIT Vs. Walfort Share & Stock Brokers P. Ltd. 326 ITR 1 (SC), the provisions of section 14A are not attracted in case of the appellant in absence of any proximate cause for disallowance. Accordingly, the ld. CIT(A) ought to have deleted the impugned addition of Rs. 90,115 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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