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2017 (10) TMI 1310

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..... 7 / 2017 49 / 2017, 50 / 2017 - -
Income Tax
Depreciation on the assets not actually in the possession of the assessee - ITAT allowed the claim - Whether the order of the Tribunal ignores and does not deal with the factual findings recorded by the assessing officer and is, therefore, perverse ? - Held that:- This Court is of the considered opinion that both the question Nos. 1 and 2 raised i .....

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..... being aggrieved by order dated 11/1/2016 passed by the Income Tax Appellate Tribunal, Bench Indore in I.T.A.No. 23 (Revenue / Ind / 2015) for the assessment year 2006 - 2007. Facts of the case reveal that during search and seizure operation u/S. 132 of the Income Tax Act, 1961 the business as well as residential premises of Kataria Group, Ratlam was subjected to search and seizure on 7/9/2011. Du .....

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..... ssee, against which the Income Tax Department has preferred an appeal before the Income Tax Appellate Tribunal and the appeal of the Department was dismissed, meaning thereby, an addition made by the Assessing Officer of ₹ 13,28,400/-; ₹ 3,20,53,136/- and ₹ 64,10,627/- on account of the depreciation claimed on Wind Mill for the assessment year 2006 - 2007, 2008 - 2009 and 2009 - .....

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..... s which have been decided by the Tribunal as a last authority on facts by analyzing the relevant documents and facts and the first appellate authority has also decided the issue in favour of the assessee. Thus, there are concurrent findings of fact by both the appellate authorities. In the light of the aforesaid, this Court is of the considered opinion that both the question Nos. 1 and 2 raised i .....

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