2015 (10) TMI 1447

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..... t : Shri. A.V. Sreekanth, IRS, JCIT ORDER Vikas Awasthy (Judicial Member).- The appeal has been filed by the assessee against the order of the Commissioner of Income-tax (Appeals)-II, Madurai dated August 18, 2014. 2. The assessee is a public limited company engaged in the business of manufacturing chlorate and generation of power through windmill. The assessee filed its return of income for .....

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..... ioner of Income- tax (Appeals) vide impugned order upheld the findings of the Assessing Officer. Now, the assessee has come in the second appeal against the findings of the Commissioner of Income-tax (Appeals). 3. Shri. S. Chandrasekaran, appearing on behalf of the assessee, submitted that the learned Commissioner of Income-tax (Appeals) erred in coming to the conclusion that the assessee had rep .....

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..... rned Departmental representative pointed out that in the grounds of appeal raised before the Commissioner of Income-tax (Appeals), the assessee had admitted the fact that the windmill of similar capacity was purchased and installed in place of totally damaged windmill. The learned Departmental representative further submitted that it is nowhere stated by the assessee that only certain parts of the .....

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..... .                 "In your appellant's HTSC No. 2 there were two windmills each of 250 KW capacity. The 500KW windmills used to generate power for supply to the grid. In the above HTSC one No. 250 KW wind turbine (TCL2) was totally damaged due to natural calamity. Hence a similar capacity windmill was purchased and ins .....

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..... windmill in the place of old windmill, the expenditure would certainly be capital in nature. The file is remitted back to the Assessing Officer with a direction to decide the issue afresh after verifying the factual aspect. The Assessing Officer while deciding the issue de novo shall grant an opportunity of hearing to the assessee, in accordance with law. 7. The second issue in appeal with respe .....

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