DCIT, CHENNAI vs. INDOWIND ENERGY LIMITED, CHENNAI

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ITA 1122/CHNY/2017Status: DisposedITAT Chennai05 January 2018AY 2010-113 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal confirmed the order of the lower authority, finding no reason to interfere. It noted that a similar issue in the assessee's own case for AY 2008-09 was decided in favor of the assessee by the Tribunal, considering the relevant CBDT circular.

What were the facts?

The Revenue appealed against the CIT(Appeals) order concerning the assessment year 2010-11. The sole issue was the disallowance of excess depreciation claimed under MAT computation.

What were the issues?

The primary issue was whether the claim for excess depreciation under MAT computation was allowable, considering a previous Tribunal decision and a CBDT circular.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH, CHENNAI

Before: SHRI N.R.S. GANESAN & SHRI S. JAYARAMAN

For Respondent: Shri S. Sridhar, Advocate
Hearing: 01.01.2018Pronounced: 05.01.2018

आदेश /O R D E R

PER N.R.S. GANESAN, JUDICIAL MEMBER:

1.

This appeal of the Revenue is directed against the order of the Commissioner of Income Tax (Appeals)-6, Chennai, dated 27.02.2017 and pertains to assessment year 2010-11.

2.

The only issue arises for consideration is with regard to disallowance on the claim of excess depreciation under MAT computation.

3.

We heard Shri N. Madhavan, the Ld. Departmental Representative and Shri S. Sridhar, the Ld.counsel for the assessee. From the order of the CIT(Appeals) it appears that in the assessee's own case for assessment year 2008-09 in & 937/Mds/2015, this Tribunal considered an identical issue and a similar claim of the assessee was allowed by this Tribunal. The only objection of the Ld. D.R. before this Tribunal is that there was a circular issued by the CBDT in Circular No.2/89 dated 07.03.1989. A perusal of the above order of this Tribunal clearly shows that this Tribunal has considered the circular said to be issued by the CBDT while deciding the issue.

4.

In view of the above, this Tribunal does not find any reason to interfere with the order of the lower authority and accordingly the same is confirmed.

5.

In the result, the appeal filed by the Revenue is dismissed.

Order pronounced on 5th January, 2018 at Chennai.

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