9911796707
TMI Blog2016 (3) TMI 457X X X X Extracts X X X X X X X X Extracts X X X X ..... ar, JM For the Appellant : Shri Kailash Mangal, JCIT For the Respondent : Shri Aashish Sharma, Adv ORDER Per T R Meena, AM This is an appeal filed by the revenue against the order dated 19/02/2014 of the learned C.I.T.(A)-II Jaipur, for A.Y. 2006-07. The effective ground of appeal is as under:- (i) Whether on the facts and in circumstances of the case and in law the ld CIT(A) has erred in allowing additional depreciation of ₹ 58,14,792/- U/s 32(1)(iia) on wind mill. (ii) Whether on the facts and in circumstances of the case and in law the ld CIT(A) has erred in allowing depreciation U/s 32(1)(iia) on wind mill even though the wind mill was not purchased in the context of core business of manufacturing o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gy and no new article or thing is manufactured or produced. As per Section 32(1)(iia), the word manufacture or Produce have been used to explain the true spirit of provisions of the Act, which is evident from the facts that the provisions regarding generation or generating has been separately dealt with in Section 32(1)(ii)(i) wherein it is stated that in the case of assets of an undertaking engaged in generation or generation and distribution of power, such percentage of actual cost thereof to the assessed as may be prescribed. The Assessing Officer further held that manufacture or produce is entirely different from generation. Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent to allow additional depreciation on new machine acquired. Since appellant is engaged in producing machineries which are articles or things, appellant is entitled to additional depreciation. Respectfully following the decision of Madras High Court relied upon by the appellant, appellant is allowed additional depreciation on Windmill. 4. Now revenue is in appeal before us. The ld DR vehemently supported the order of the Assessing Officer. 5. At the outset, the ld AR of the assessee has argued that the Hon'ble ITAT has decided the number of cases on windmill and wherein it has allowed depreciation @ 80% on it. The ld CIT(A) also considered the decision cited by the assessee at the time of deciding the appeal in case the Texmo P ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
