DCIT 12(2), MUMBAI vs. KEWALRAJ & CO, MUMBAI

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ITA 4775/MUM/2013Status: DisposedITAT Mumbai28 October 2015AY 2007-087 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the assessee had satisfied the conditions for claiming depreciation, including ownership and the existence of a new asset. The AO's disallowance based on the identification number and land cost was not substantiated.

What were the facts?

The assessee claimed depreciation on a Wind Energy Generator (WEG). The Assessing Officer (AO) disallowed depreciation, citing issues with the identification number of the WEG and the cost of land. The assessee argued that the WEG was new, functional, and properly documented.

What were the issues?

The main issues were the allowability of depreciation on a Wind Energy Generator and the addition made by the AO under Section 69C based on the cost of land.

Which sections of the Income-tax Act were involved?

Section 69C

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Cases cited in this judgment(1)Show list

Detected automatically from the text. The count shows how many other judgments on BharatTax rely on the same authority.

  • 54 Taxmann.com 385
    54 Taxmann.com 385 · 2015
    3 citing

Heard together (3 matters)

ITA No.4775/Mum/2013
ITA No.4166/Mum/2013
ITA No.4776/Mum/2013

Read from the judgment's own cause title. This page is filed under one of them.

आदेश क� क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत/Copy of the Order forwarded to : आदेश आदेश आदेश क� क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत 1.Appellant /अपीलाथ� 2. Respondent /��यथ� 3.The concerned CIT(A)/संब� अपीलीय आयकर आयु�, 4.The concerned CIT /संब� आयकर आयु� 5.DR “ ” Bench, ITAT, Mumbai /िवभागीय �ितिनिध, ए खंडपीठ,आ.अ.�याया.मुंबई 6.Guard File/गाड� फाईल स�यािपत �ित //True Copy// आदेशानुसार/ BY ORDER, उप/सहायक पंजीकार Dy./Asst. Registrar आयकर अपीलीय अिधकरण, मुंबई /ITAT, Mumbai.

4775+2kewalraj

Date Initials 1. Draft dictated on PC 2. Draft placed before author 3. Draft proposed & placed before the Second Member 4. Draft discussed/approved by Second Member 5. Approved draft comes to the Sr.PS 6. Kept for pronouncement 7. Date on which the file goes to the Bench Clerk 8. Date on which file goes to the A.R. for signature of the Order 9. Date of dispatch of the Order

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