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TMI Blog2010 (2) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... ack - 48/2002, 4, 5, 6/2004 & 28/2008 and 48/2002 - - - Dated:- 18-2-2010 - The Commissioner of Income Tax, having Office at Aayakar Bhavan, Patto Plaza , Panaji, Goa . Versus M/s. Dempo Industries Ltd. (Former by known as Universal Beverages Ltd.), Dempo House, Campal, Panaji, Goa . TAX APPEAL NO. 28/2008 The Commissioner of Income Tax, having Office at Aayakar Bhavan, Patto Plaza , Panaji, Goa . Versus M/s. Goa Carbon Ltd., Dempo House, Campal, Panaji, Goa . Mr. S. R. Rivonkar, Advocate for the appellant Mr. Sudin Usgaonkar, Advocate for the respondents. CORAM:- NARESH H. PATIL N.A. BRITTO, JJ. ORAL JUDGMENT: (Per NARESH H. PATIL, J.) In all these appeals, an id ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the learned Counsel appearing for the Revenue herein was not raised before any of the authorities below. The learned Counsel fairly submitted that the Court is entitled to frame substantial question of law if it emerges from the record. In the submission of the learned Counsel, the assesses were entitled to carry out business of leasing and accordingly, except in Tax Appeal No.28/2008, had purchased bottles and crates and leased out to the companies manufacturing cold drinks. In the said process, the assessees had put the purchased material to their use for their business purpose which was for leasing. The learned Counsel further submitted that the Revenue did not challenge the order passed by the Assessing Office and as such, accepte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs are required to be remanded to the ITAT, for addressing the following issues and for passing a reasoned order. The issues are: (i) Whether the Assessees, in order to claim depreciation under Section 32 of the Act, ought to have put to use the goods viz. bottles, crates, capacitors, for their business? (ii)Whether the assessees in the present matters are entitled to claim depreciation under Section 32 of the Act because they are, according to them, involved in leasing business? 8. In the light of the issues framed, we quash and set aside the order passed by the ITAT and remand the matters back to the ITAT, Panaji Bench, Panaji. The ITAT is directed to issue notices to the concerned parties in all these appeals and after affording re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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