2014 (10) TMI 794

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..... i) 1. Heard learned Advocates appearing for the parties. 2. By way of this Appeal, the appellant - original assessee has challenged the judgment and order of the Income Tax Appellate Tribunal, Ahmedabad Bench 'C' dated 01.06.2001 whereby the Tribunal in I.T.A. No.4114/Ahd/1995 (Asst. Year 1992-93) has dismissed the Appeal, and disallowed the deprecation which was claimed by the assessee. .....

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..... case of Assistant Commissioner of Income Tax v. Ashima Syntex Ltd. (supra) reads as under :- "The assessee was a manufacturer of fabrics. During the accounting year relevant to the assessment year 1993- 94, it imported air-jet looms from Japan. It was stated that the assessee commenced trial production on March 26, 1993, and some cotton fabrics were also produced which had been shown as closing .....

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..... ctured and with the permission of the authorities of the Kandla Port Trust, the material was disposed of. The question was not one of setting up a new unit, but the question was of expansion of the unit. The Tribunal had found that 2,68,412 meters of grey cloth was manufactured. Law does not require that there must be optimum production for granting the benefit. Law only requires that there must b .....

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