2010 (12) TMI 1147

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..... . O.K. NARAYANAN ; VP The appeal is filed by the Revenue. The cross-objection is filed by the assessee. The relevant assessment year is 2000-01. The appeal and the cross-objection are filed against the order of the C.I.T.(Appeals)-V at Chennai passed under sec.154 of the I.T.Act, 1961 dated 26.11.2009. 2. In the present case, the assessment was completed under sec.143(3). The assessee had .....

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..... depreciation at 100%. 4. Regarding the first ground, the C.I.T.(Appeals) held that the Assessing Officer was justified in invoking sec.154. Regarding the second ground on merit, the C.I.T.(Appeals) found that Vapour Absorption Machine is an energy saving device and therefore, entitled for depreciation at 100%. The appeal was allowed on the above ground. 5. Now the Revenue has come in appeal .....

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..... 8. The item placed before us for considering grant of depreciation allowance is Vapour Absorption Machine. The dispute is whether it is an energy saving device or not. In the original assessment completed under sec.143(3), the Assessing Officer himself has granted depreciation at 100% on the ground that the machine is an energy saving device. In the appeal, the C.I.T.(Appeals) also held the sa .....

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