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TMI Blog2021 (8) TMI 792X X X X Extracts X X X X X X X X Extracts X X X X ..... l year under consideration and, therefore, the assessee is very much eligible for claim of depreciation which has been rightly allowed by the CIT(A). We, therefore, do not find any error in the findings of the CIT(A). The appeal filed by the revenue is accordingly dismissed. - ITA No.6696/Del/2015 (Assessment Year: 2006-07) - - - Dated:- 23-6-2021 - SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND SH ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1.45 crores which was accessed at ₹ 1.49 crores vide order dated 16.04.2008 framed u/s. 143 (3) of the Act. 5. Subsequently vide order dated 03.03.2011 the PCIT assuming jurisdiction u/s.263 of the Act set aside the assessment with a direction to the AO to frame the assessment afresh after verification of genuineness of the claim of the depreciation on wind power plant. 6. Pursuant to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies below. We find that the AO has disallowed the depreciation on the wind power generation plant mainly for the following reasons :- (i) The plant could not have been set up by 31.03.2006, in view of the fact that the seller M/s Sulzon Energy Ltd. (SEL) had issued the sale bill on 29.03.2006 and there was no evidence in the form of required lorry receipts, which could confirm transportation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o such reply was filed. (iii) The auditor in the audit report did not mention about the business of wind power generation nor any depreciation on the wind power generation plant was claimed under the Companies 1956. 12. We have gone through the power purchase agreement with Banglore Electricity Supply Company Limited and the same is placed at pages 9 to 34 of the paper book. 13. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. The said commissioning certificate is as under :- 18. Considering the aforestated clinching evidences there remain no doubt that the wind power generation plant was commissioned during the financial year under consideration and, therefore, the assessee is very much eligible for claim of depreciation which has been rightly allowed by the CIT(A). We, therefore, do not find any error in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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