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TMI Blog2013 (12) TMI 1153X X X X Extracts X X X X X X X X Extracts X X X X ..... in the "return" of income filed within the due date of filing is sufficient for exercising the option as required under the second proviso of rule 5(1A) - Decided against Revenue. X X X X Extracts X X X X X X X X Extracts X X X X ..... in its depreciation schedule, it had claimed depreciation at 80 per cent. (40 per cent for half-year) on windmills purchased at Rs. 1,31,84,766. Per the Assessing Officer, the same amounted to excess depreciation claimed. Further, in the opinion of the Assessing Officer, the expenditure incurred by the assessee to raise the authorised capital, if any, debited to the profit and loss account was als ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... law of K.K.S.K. Leather Processors P. Ltd. v. ITO [2011] 9 ITR (Trib) 758 (Chennai) and held that the assessee is eligible for depreciation on windmills at 80 per cent. Therefore, the Revenue is in appeal. Reiterating the grounds raised, the Departmental representative would contend that the Commissioner of Income-tax (Appeals) has wrongly held that the assessee is entitled for depreciation reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or not. Admittedly, in the case law of K.K.S.K. Leather Processors P. Ltd. v. ITO [2011] 9 ITR (Trib) 758 (Chennai) the abovesaid co-ordinate Bench above said has decided the issue in favour of the assessee. On this, the argument of the Revenue is that the said order has not been accepted and it has preferred a tax case appeal before the hon'ble jurisdictional High Court. This, in our opinion, doe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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