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TMI Blog2016 (5) TMI 1225X X X X Extracts X X X X X X X X Extracts X X X X ..... d in (2007 (9) TMI 362 - MADHYA PRADESH HIGH COURT ) - Decided in favour of assessee - ITA No. 66/2003 - - - Dated:- 11-1-2016 - P. K. Jaiswal And Jarat Kumar Jain, JJ. For the Petitioner : R. L. Jain, Veena Mandlik For the Respondent : D. S. Kale ORDER Heard on IA No.6577/2015, which is an application for dismissal of appeal. Learned Counsel for the respondent has submitt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation allowable. The Division Bench of this Court in the case of Commissioner of Income Tax V/s. Premier Industries (India) Ltd. Decided the following which reads as under :- Mr. G.M.Chaphekar, learned senior counsel for the respondent, per contra, has submitted that once machine has been brought for a particular purpose connected with the activities of the assessee and the same has not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed into service. The impugned order of the Tribunal has taken the view that if the asset is not sold, discarded or demolished or destroyed during the previous year, the assessee becomes entitled to depreciation. In this view of the matter, the Tribunal has allowed the depreciation on the Tetrapack machine of the assessee. Since keeping the machine in readiness is a finding of fact, we have t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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