THE DCIT,(OSD), RANGE-1, AHMEDABAD vs. M/S. BHAGWATI SPHEROCAST PVT. LTD., AHMEDABAD

ITA 2394/AHD/2014Status: DisposedITAT Ahmedabad29 September 2017AY 2008-093 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision, agreeing that the melting furnace was an energy-saving device eligible for a higher depreciation rate. The Revenue's appeal was dismissed.

What were the facts?

The Revenue appealed against the CIT(A)'s order which deleted the disallowance of depreciation on a melting furnace. The assessee claimed depreciation at a higher rate applicable to energy-saving devices.

What were the issues?

Whether a flameless melting furnace qualifies as an energy-saving device for a higher depreciation rate. The applicability of depreciation rates for specific industries versus general plant and machinery.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AHMEDABAD “A” BENCH AHMEDABAD

Hearing: 20.09.2017

PER S. S. GODARA, JUDICIAL MEMBER

This Revenue’s appeal for assessment year 2008-09 arises against the CIT(A)-6, Ahmedabad’s order dated 30.06.2014, in case no. CIT(A)-VI/DCIT (O ) R-1/187/12-13, reversing Assessing Officer’s action disallowing assessee’s depreciation claim of Rs.57,23,043/- ; in proceedings u/s. 143(3) r.w.s. 147 of the Income Tax Act, 1961; in short “the Act”. Heard both sides. Case file perused.

2.

The Revenue’s solitary substantive grievance seeks to revive the above depreciation disallowance amounting to Rs.57,23,043/- pertaining to assessee’s

ITA No. 2394/Ahd/14 (DCIT(O ) vs. Bhagwati Spherocast P. Ltd.) A.Y. 2008-2009 - 2 -

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