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TMI Blog2010 (12) TMI 1345X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessment years 1996-97, 98-99, 1999-2000 and 2001-02 respectively. These appeals were heard together and hence disposed of by this single order for the sake of convenience. 2. The ld. DR while relying upon the orders of the Assessing Officer has pleaded for setting aside the orders of the ld. CIT(A) and restoring that of the Assessing Officer for all the four years. 3. The assessee s counsel while supporting the orders of the ld. CIT(A) has submitted that since the additions against which penalties have been imposed for all the four years have since been deleted/set aside, therefore, the ld. CIT(A) is justified in deleting the said penalties, which are not imposable. As such, the orders of the ld. CIT(A) for all the four years sho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A.O. allowed depreciation in respect of 6 SLB Transaction and disallowed in respect of 8 transactions. 21.02.2003 - Order u/s.263 setting aside the assessment order dated 28.02.2001 in respect of 6 SLB transactions. 13.03.2004 - Order u/s.143(3) r.w.s. 263 disallowing depreciation in respect of 6 SLB transaction. 15.10.2004 - CIT (A) order confirming the disallowance of depreciation 28.03.2006 - Order u/s.271 (1)(c) 22.06.2006 - ITAT order in ITA No 817 and 818/03 against the order u/s.263 - CIT s order in disallowing depreciation in respect of 6 SLB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /05, Setting aside the excess claim of depreciation in respect of ORJ electronics to A.O. in ITA no 3401/04 @ para 15,17, in the compilation at page 32. Depreciation on wind mills allowed following I.T.A. No. .1435/99 @ para 19 in the compilation page 32. Sd/- COUNSEL FOR ASSESEE ITA No.1500/2010 Asst Year: 1999-00 M/s.ICICI Bank Ltd .. Assessee NOTE 28.02.2001 - Assessment Order u/s.143 (3) Excess depreciation claim on windmills Rs.22,50,00,000 disallowed. 31.03.2004 - Reassessment order u/s.143(3) r.w.s.147 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... justified, as such, while concurring with his finding, we uphold his order and dismiss three appeals of the Revenue. 4.2 With regard to penalty for the assessment year 1996-97 is concerned, as per assessee s counsel, the matter has been set aside in ITAT s order in I.T.A. No. 1435/Mds/1999 with respect to sale and lease back in respect of 8 transactions to the file of the ld. CIT(A) at para 23 in page 23 of the compilation filed. In view of the facts and details furnished by the ld. Counsel for the assessee, we find it just and appropriate to set aside the orders of both the authorities below for the assessment year 1996-97 and restore the matter back on the file of the Assessing officer with the direction to redecide the same afresh aft ..... X X X X Extracts X X X X X X X X Extracts X X X X
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