DCIT, CHENNAI V. Indowind Energy Limited, CHENNAI

ITA 1122/CHNY/2017

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 5062 (ITAT-CHENNAI)
• Duration Of Justice: 8 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-01-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 04-05-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: N MADHAVAN
• Assessee Lawyers: S SRIDHAR
• Keywords: Depreciation

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI . . . , , ' # BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER ./ ITA NO.1122/MDS/2017 & '& / ASSESSMENT YEAR : 2010-11 THE DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 2(2), CHENNAI - 600 034. V. M/S INDOWIND ENERGY LIMITED, 4 TH FLOOR, KOTHARI BUILDING, 114, M.G. ROAD, NUNGAMBAKKAM, CHENNAI - 600 034. PAN : AAACI 1806 M ()*/ APPELLANT) (+,)*/ RESPONDENT) )* - . / APPELLANT BY : SHRI N. MADHAVAN, ADDL.CIT +,)* - . / RESPONDENT BY : SHRI S. SRIDHAR, ADVOCATE / - 0' / DATE OF HEARING : 01.01.2018 12' - 0' / DATE OF PRONOUNCEMENT : 05.01.2018 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST TH E ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-6, CHENNAI , DATED 27.02.2017 AND PERTAINS TO ASSESSMENT YEAR 2010-11. 2 I.T.A. NO.1122/MDS/17 2. THE ONLY ISSUE ARISES FOR CONSIDERATION IS WITH REGARD TO DISALLOWANCE ON THE CLAIM OF EXCESS DEPRECIATION UN DER 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 AP PEARS THAT IN THE ASSESSEE'S OWN CASE FOR ASSESSMENT YEAR 2008-09 IN I.T.A. NO.936 & 937/MDS/2015, THIS TRIBUNAL CONSIDERED AN IDENTIC AL ISSUE AND A SIMILAR CLAIM OF THE ASSESSEE WAS ALLOWED BY THIS T RIBUNAL. 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 DAT ED 07.03.1989. A PERUSAL OF THE ABOVE ORDER OF THIS TRIBUNAL CLEAR LY SHOWS THAT THIS TRIBUNAL HAS CONSIDERED THE CIRCULAR SAID TO BE ISS UED BY THE CBDT WHILE DECIDING THE ISSUE. 4. IN VIEW OF THE ABOVE, THIS TRIBUNAL DOES NOT FIN D 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 I S DISMISSED. 3 I.T.A. NO.1122/MDS/17 ORDER PRONOUNCED ON 5 TH JANUARY, 2018 AT CHENNAI. SD/- SD/- ( ) ( . . . ) (S. JAYARAMAN) (N.R.S. GANESAN) ' / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 4 /DATED, THE 5 TH JANUARY, 2018. KRI. - +056 76'0 /COPY TO: 1. )* /APPELLANT 2. +,)* /RESPONDENT 3. / 80 () /CIT(A)-6, CHENNAI 4. PRINCIPAL CIT- 2, CHENNAI 5. 69 +0 /DR 6. :& ; /GF.