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TMI Blog2019 (10) TMI 145X X X X Extracts X X X X X X X X Extracts X X X X ..... r as the interest and insurance is concerned same is verifiable from records hence the Assessing Officer would delete this addition however, in respect of the other expenditure the Assessing Officer would verify whether this expenditure is related to installation of the plant and machinery and would delete if it is found to be incurred for the said purpose. The ground raised in appeal is allowed in the terms indicated above. - ITA No. 419/Ahd/2018 - - - Dated:- 1-10-2019 - Shri Kul Bharat, Judicial Member And Shri Waseem Ahmed, Accountant Member For the Appellant : Shri Aseem L. Thakkar, A.R. For the Respondent : Shri Satish Solanki, Sr. D.R. ORDER PER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... additional depreciation. 3. The facts giving rise to the present appeal are that the case of the assessee is picked for scrutiny assessment and the assessment u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred as to the Act ) was framed by order dated 31.12.2015. While framing the assessment, the Assessing Officer disallowed additional depreciation amounting to ₹ 35,95,933/-. The basis for disallowing the additional depreciation was that the items are neither plant machinery nor parts thereof on which additional depreciation could be granted. Subsequently, the Assessing Officer rectified mistake u/s 154 and restricted addition to the extent of ₹ 7,19,187/- against this the assessee preferred an app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , perused the materials available on record and gone through the orders of the authorities below. The Learned Counsel for the assessee submitted that the amount which has been incurred for purchase and installation is reproduced in the impugned order that includes interest on bank term loan which has been capitalized from the month of April to month of October. Further expenditure have been incurred on the insurance. We find that so far as the interest and insurance is concerned same is verifiable from records hence the Assessing Officer would delete this addition however, in respect of the other expenditure the Assessing Officer would verify whether this expenditure is related to installation of the plant and machinery and would delete if ..... X X X X Extracts X X X X X X X X Extracts X X X X
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