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TMI Blog2015 (11) TMI 1265X X X X Extracts X X X X X X X X Extracts X X X X ..... Income-tax Act, 1961 (in short 'the Act'). 3. Dr. Anita Sumanth, the Ld.counsel for the assessee, submitted that the assessee asked for the reasons for reopening in the light of the judgment of the Apex Court in GKN Driveshafts (India) Ltd. v. ITO 259 ITR 19. However, the reasons were not furnished. The Ld.counsel further submitted that however, in the course of appellate proceedings, the reasons were brought to the notice of the assessee. According to the Ld.counsel, when the assessee was not furnished the reasons, the entire proceeding is vitiated. Therefore, the assessment order does not stand in the eye of law. 4. Coming to the merit of the appeal, the Ld.counsel submitted that the assessee entered into an agreement for creation and o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in Geetha Hotels (P) Ltd. v. CIT (2002) 254 ITR 649. Referring to the judgment of Apex Court in CIT v. Anand Theatres (2000) 244 ITR 192, the Ld.counsel submitted that the temporary structure erected by the assessee would fall within the definition of "building". Therefore, it is entitled for depreciation @ 100%. 6. On the contrary, Sh. P. Radhakrishnan, the Ld. Departmental Representative, submitted that the assessee erected the Jetty for transport of iron ore in Ennore Port Trust. Referring to subsequent amendment made to the agreement, the Ld. D.R. pointed out that the assessee was allowed to continue till 31.03.2010 or the Ennore Port allows operations of temporary Jetty, whichever is earlier. Therefore, it is not for a period of thr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... act, para 6.1 reads as follows:- "The BOT Operator shall operate the jetty and other ironore loading facilities for a period of three years from the date of commencement of vessel loading operation. On cessation of operations at the end of three years, the BOT Operator shall dismantle and remove all the equipments / structures installed including the Jetty at his own cost." This condition was further modified by saying as under:- "BOT operator shall operate the Jetty and other Iron Ore Facilities till such time as Ennore Port allows operations or for a period of three months from 24.06.09 whichever is earlier and which period may be extended by MMTC on the same rates and terms and conditions on mutual consent depending on the iron ore ex ..... X X X X Extracts X X X X X X X X Extracts X X X X
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