9911796707
TMI Blog2011 (8) TMI 1189X X X X Extracts X X X X X X X X Extracts X X X X ..... 17.11.2009 raising following questions for our consideration: [A] Whether in fact and circumstances of the case and in law, the Appellate Tribunal is right in holding that the subsidy received by the assessee cannot be reduced from written down value for purpose of computing depreciation of wind mills. [B] Whether in fact and circumstances of the case and in law, the Appellate Tribunal, having held that the subsidy was not to be reduced from the cost of assets, should have held that the receipt was revenue receipt which was taxable.? So far as the Question A is concerned, it pertains to the treatment that the subsidy which the assessee received should get under the Income Tax Act. We find that this question was considered by this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... source of energy. Such incentive has nothing to do for meeting the cost of acquisition of windmills. It was, in fact, observed that wind mills were installed in the earlier years and not during the year under consideration. 5. Revenue, aggrieved by the decision of the CIT (A) approached the Tribunal. Tribunal by way of impugned judgment dismissed the appeal by observing that: 9. We have carefully considered the contents of the assessment order and order of the CIT (A) and rival submissions made before us. We find that the incentive is provided for promoting generation of energy through non conventional sources to supplement the ever increasing demand of electricity. We further find that the incentive is given not to meet the cost of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x Court held and observed as under: On a consideration of the matter the view that commends itself as acceptable is the one which has commended itself to the majority of the High Courts. It is, of course, not the numerical strength that prevails though the fact that a particular view has commended itself to a majority of the High Courts in the country is a matter for considerationbut the tensile strength of the acceptable logic in those decisions. It is aptly said that a judge who announces a decision must be able to demonstrate that he began from recognized legal principles and reasoned in an intellectually coherent and politically neutral way to his result . In the present case, the reasoning underlying and implicit in, the conclusio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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