2011 (12) TMI 632

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..... his appeal which read thus :- (a) Whether, on the facts and in the circumstances of the case and in law the ITAT is right in not allowing the depreciation to be allowed in computing the gross total income before allowing the deduction under Chapter VIA, following the recent judgment of this Court in the case of Scoop Industries Pvt Ltd and others v. TIO and ors 289 ITR 195 (Bom) 2007 wherein it .....

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..... ction under Chapter VIA after taking into account the depreciation allowable under the Act. The Assessing Officer was of the opinion that the depreciation has to be computed on the written down value of the asset computed in the earlier assessment years by thrusting depreciation upon the assessee. Admittedly, the depreciation thirsted upon the assessee in the earlier years have been deleted by the .....

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..... r while giving the effect to the order of the ITAT and passing the fresh order shall take into consideration the judgment of this Court in the case of CIT vs. Asian Star Ltd (326 ITR 56) wherein the Special Bench decision in the case of Lalson Enterprises 89 ITD 25 has been considered. Accordingly, the second question also cannot be entertained. In the result, the appeal is dismissed with no order .....

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