2018 (12) TMI 1855

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..... hereby the questions have been answered in favour of the assessee and against the revenue. Under the circumstances, no question of law can be stated to arise out of the said questions. Disallowance on account of additional depreciation on Milk Cans - milk cans are for collecting and storage purposes and being movable assets are not installed and, therefore, cannot be treated as plants in view of the provisions of section 32(1)(iia) -Tribunal after considering the definition of plant as contemplated under section 43(3) of the Act, has found that milk cans are plant as per the said definition and has, accordingly, deleted the disallowance - HELD THAT:- Having regard to the fact that the Assessing Officer has himself considered milk cans as pl .....

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..... ;, Ahmedabad in ITA No.1905/Ahd/2016 for assessment year 2012-13 by proposing the following four questions, stated to be substantial questions of law:- "(A) Whether the Appellate Tribunal has erred in law and on facts in deleting disallowance of interest expense made under section 14A of the Act, in respect of exempt income under section 80P(2)(d) of Income Tax Act, 1961? (B) Whether the Appellate Tribunal has erred in law and on facts in not directing the A.O. to compute the deduction under section 80P(2)(d) (on gross receipt of ₹ 2,15,52,068/-) after considering the provisions of section 80AB of the Act? (C) Whether the Appellate Tribunal has erred in law and on facts in deleting the disallowance of ₹ 33,80,446/- claimed .....

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..... he definition of "plant" as contemplated under section 43(3) of the Act, has found that milk cans are plant as per the said definition and has, accordingly, deleted the disallowance. 4. Having regard to the fact that the Assessing Officer has himself considered milk cans as plant for the purpose of normal depreciation, he was not justified in disallowing the claim for additional depreciation by holding that such milk cans cannot be treated as plant. The Tribunal, therefore, did not commit any error. Question (C), therefore, does not raise any substantial question of law. 5. Insofar as proposed question (D) is concerned, Mr. M.R. Bhatt, Senior Advocate, learned counsel for the appellant invited the attention of the court to the existing pr .....

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