2016 (4) TMI 1184

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..... learned counsel appearing for the respondent-assessee sought time. This appeal was first heard on March 15, 2016. At that time we were of the view that the issues raised herein stand concluded by the decision of this court in North Karnataka Expressway Ltd. v. CIT [2015] 372 ITR 145 (Bom) ; [2014] 272 CTR (Bom) 225 . However, Mr. Pardiwala, the learned senior counsel appearing for the respondent- .....

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..... the Revenue urges only the following two questions of law for our consideration : "(i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in directing the Assessing Officer to grant depreciation on assets not owned by the respondent that goes against the provisions of section 32 of the Income-tax Act ? (ii) Whether on the facts and in the circumstances .....

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..... dered by this court in North Karnataka Expressway Ltd. (supra). This is not so. Paragraph 8 of the order passed in North Karnataka Expressway Ltd. (supra) specifically records that the appellant relied upon a clause which is identical to that pressed into service by Mr. Dalal. Thus, the aforesaid clause being relied upon by Mr. Dalal to distinguish the decision of this court in North Karnataka Exp .....

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