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TMI Blog2017 (9) TMI 249X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of ₹ 42,04,759/being the depreciation on plant and machinery at Jamnagar Refinery as relatable to the goods purchased from Durga, Surajbhan and Singhal Bros.?” - Income Tax Appeal No. 889, 923, 928, 929 of 2014 - - - Dated:- 22-8-2017 - S. C. Dharmadhikari And Smt. Vibha Kankanwadi, JJ. Mr. J.D. Mistri, Senior Counsel with Mr. Raj Darak Mr. P.C. Tripathi for the Appellant Mr. A.R. Malhotra with Mr. N.A. Kazi for the Respondents ORDER P.C: 1. After having heard Mr. Mistri, learned Senior Counsel appearing on behalf of the appellant at some length and perusing with his assistance the order passed by the Income Tax Appellate Tribunal dated 1392013, impugned in these appeals, we are of the opinion that ou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s. Laxmi Exports, M/s. Swati International and M/s. Rashi International. 7. From the statement of Mr. Agarwal and related materials, the concurrent findings are recorded against the assessee. They are recorded essentially by relying on Mr. Agarwal's statement. After Agarwal procured these materials from the three companies controlled by Mr. V.M. Kokate, but when the inquiries by the Assessing Officer revealed that these three units of Kokate did not supply any material worth the name to Agarwal for onward supply to the assessee, then, the findings of fact based on the materials and particularly the statement of Mr. Agarwal cannot be termed as perverse. We cannot undertake the exercise of reappreciation and reappraisal of the factua ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ministrative expenditure for earning of exempt interest/dividend income is unreasonable and excessive? (iii) Whether the Tribunal erred in denying the Appellant's claim for depreciation of ₹ 42,04,759/being the depreciation on plant and machinery at Jamnagar Refinery as relatable to the goods purchased from Durga, Surajbhan and Singhal Bros.? 11. The Registrar (Judicial)/Registrar, High Court, Original Side, Bombay to ensure that the original record in relation to these appeals is summoned from the Tribunal and offered for inspection of the parties. These paperbooks are treated sufficient for the purpose of admission of these appeals. However, the Registry must further ensure preparation of complete paperbook in accord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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