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TMI Blog2017 (6) TMI 555X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee. On the second ground of payment without deducting tax at source, there is nothing to suggest that there was any failure on the part of the assessee to disclose truly and fully all material facts. - Decided in favour of assessee. - Tax Appeal No. 354 of 2017 - - - Dated:- 7-6-2017 - Mr. AKIL KURESHI And Mr. BIREN VAISHNAV JJ. For the Appellant : Mrs Mauna M Bhatt, Advocate ORAL ORDER ( PER : HONOURABLE MR . JUSTICE AKIL KURESHI ) 1. This appeal is filed by the Revenue challenging the judgment of the Income Tax Appellate Tribunal ('the Tribunal' for short) dated 07.06.2016. In the appeal, following question is presented for our consideration. Whether the Appellate Tribunal has erred in law and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rate of depreciation 1 st Half 2 nd Half Depreciation allowable Depreciation allowed in asst, order Excess depreciation Factory building power 10% 5894517 41808447 2679874 4475571 1795696 Pipe Fittings 25% 2920964 6030261 1484024 1872686 388662 Plant Machinery 25% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... material facts. In fact, the Assessing Officer had not even so alleged. The Tribunal observed as under: As observed earlier, the interdiction provided in the proviso appended to section 147 of the Income Tax puts an embargo upon the powers of the AO to issue notice under section 148 of the Income Tax Act, in cases where, the original assessment was made under section 143 ( 3 ) and four years have expired . The AO has been denuded from his powers to issue notice in such cases unless it is established that income chargeable to tax has escaped the assessment on account of failure of the assessee to disclose all the material facts fully and truly in respect of its income . The AO has nowhere alleged any failure of the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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