2011 (10) TMI 658

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..... me Tax Act, 1961 (Act for short) impugns the order dated 19th November, 2010 passed by the Income Tax Appellate Tribunal (tribunal for short) in ITA No.3082/Del/2010 for assessment year 2007-08 in respect of respondent/assessee YFC Projects Pvt. Ltd. 2. After hearing the counsel for the parties the following substantial question of law is framed:- Whether the tribunal is right in h .....

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..... hird parties. The said aspect is relevant and material to decide the controversy in question, in the light of the judgment of the Supreme Court in NC Budharaja (supra). 10. Learned counsel for the parties admit and accept that in case RMC was used for construction activities which were undertaken by the respondent-assessee, the claim for additional depreciation cannot be allowed but in ca .....

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..... aside with the direction to the tribunal to re-examine the matter on merits after deciding the question whether the RMC was sold to third parties, or was captively used/utilized. The respondent assessee will be entitled to additional depreciation on the machinery/equipment used for the said activity/purpose only if the RMC was sold to third parties. In case, RMC was partly sold and partly self ut .....

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