9911796707
TMI Blog2013 (12) TMI 1357X X X X Extracts X X X X X X X X Extracts X X X X ..... s/2012, I.T.A. No. 1824/Mds/2010 and I.T.A. No. 1825/Mds/2010. The adjournment petition is common for all the above appeals and simply mentions that certain instructions and particulars had been sought from the assessees and they were awaited. A look at the order sheet entries show that the originally both these appeals were posted for hearing on 21.3.2011 and on the request of the assessees, adjournment was granted. Thereafter, it was posted for hearing on 24.3.2011, 2.6.2011, 18.8.2011, 2.11.2011, 18.1.2012, 19.1.2012 and 30.7.2012. In each of such occasion, adjournments were sought by assessee's counsel citing personal inconvenience and other trivial reasons. It is also noted that in none of the occasions, the learned D.R. had sought any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act') introduced by Finance Act, 2002 with effect from 1.4.2003 and amended by Finance Act, 2004 with effect from 1.4.2005 clearly showed that additional depreciation was allowable only on plant and machinery, which were newly purchased, in the year of purchase and installation. The benefit, as per ld. CIT(Appeals), was available only in the initial year and not in any subsequent year. Further, as per CIT(Appeals), intention of the Legislature for giving additional depreciation was to promote investment in new plant and machinery. In this view of the matter, he confirmed the disallowance made by the Assessing Officer. 5. Now before us, learned A.R., strongly assailing the orders of authorities below, submitted that Section 32(1)(iia) w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nbsp; ----------------------------- (ii) ----------------------------- ------------------------------ (iia) in the case of any new machinery or plant (other than ships and aircraft), which has been acquired and installed after the 31st day of March, 2005, by an assessee engaged in the business of manufacture and production of any article or thing, a further sum equal to twenty per cent of the actual cost of such machinery ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iia) cannot be allowed. Additional depreciation itself is only for a new machinery or plant. A claim of additional depreciation as made by the assessee, if allowed, will not be an allowance for a new machinery or plant. Intention of the Legislature was to give such additional depreciation in the year in which assets were put to use and not for any succeeding year. There is nothing in the statute which allows such claim of additional depreciation every year on machinery acquired in earlier year. There cannot be any presumption that unless a claim is specifically denied, it has to be allowed. In the case of Brakes India Ltd. (supra) where assessee claimed carry forward of additional depreciation, this Tribunal had held as under at para 15 of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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