9911796707
TMI Blog2021 (9) TMI 1553X X X X Extracts X X X X X X X X Extracts X X X X ..... nery and as such, it cannot be reduced from the cost of asset - HELD THAT:-We find that in the assessment years 2012-13 2013-14 [ 2020 (4) TMI 86 - ITAT DELHI ] held as based upon the decision rendered by Hon ble Apex Court in CIT vs. Meghalaya Steels Ltd. [ 2016 (3) TMI 375 - SUPREME COURT ] we are of the considered view that the excise refund is in the nature of revenue receipt forming part of p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eal filed by the Revenue is directed against the order dated 05.06.2017 of the learned CIT(A)-30, New Delhi, relating to Assessment year 2014-15. The solitary ground raised in this appeal is relating to deletion of addition of Rs. 4,12,17,481/- by the Ld. CIT(A). 2. At the outset, Ld. A.R. for the assessee submitted that the issue in dispute is squarely covered by the decisions of the ITAT, Delhi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... specially the order of the Tribunal in assessee s own case in earlier assessment years, wherein the similar issue has been decided in favour of the Assessee and Revenue s appeals have been dismissed by upholding the order of the Ld. CIT(A). We find that in the assessment years 2012-13 2013-14 in ITA Nos. 5129 5130/Del/2015 in assessee s own case the ITAT, Delhi Bench has observed as under :- 7. We ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT(A) are based upon the decision rendered by Hon ble Apex Court in CIT vs. Meghalaya Steels Ltd. (2016) 383 ITR 217 (SC), we are of the considered view that the excise refund is in the nature of revenue receipt forming part of profits and gains arising from the business and as such cannot be reduced from the cost of plant and machinery. So, the findings returned by Ld. CIT(A) on this issue are co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nding of the Ld. CIT(A) on the issue in dispute. The grounds of the appeal raised by the Revenue in both the assessment years are dismissed. 9. In the result, both the appeals of the Revenue are dismissed. 5. Thus on identical facts in preceding years the ITAT, Delhi Bench has decided the issue in dispute in assessee s favour in assessee s own case, as aforesaid. Hence, respectfully following the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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