2002 (4) TMI 741

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.... Jayachandran, JDR, for the Respondent. [Order per : S.L. Peeran, Member (J)]. -  This stay application and the appeal are taken up together for disposal as the issue lies in a short compass. 2. In the impugned order, the Commissioner (Appeals) has noted that during the financial year, 1995-1996, the appellants; had received Ring Spinning frame and one Pneumafil Unit and availed....

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....granted the depreciation. He submits that on similar issued, this Bench has been passed an order of remand for de novo consideration in view of fresh orders obtained by the appellants from the Assistant Commissioner of the Income-tax, He refers to the Final Order No. 1928/2001, dt. 9-11-2001 [2002 (149) E.L.T. 796 (T)] and the Final Order Nos. 187-188/2002, dt. 31-1-2002 [2002 (150) E.L.T. 297 (T)....

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....002 (150) E.L.T. 297 (T)]. The Para 4 of the final order in the GTV Spiners Ltd. is extracted below : "4. After hearing both the sides, we are of the considered opinion that the matter requires fresh appreciation of facts in the light of the judgment rendered by the co-ordinate Bench in the case of Terna Shetkari Sahakari Sakhar Karakhana Ltd. v. CCE (supra) in which it has been held that ....

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....he amendment to Section 43(1) of the Income-tax Act, 1961 made in 1998 with effect from 1-4-1994. We, therefore, direct the original authority to reconsider the depreciation as contended by the ld. Counsels after affording an opportunity to the appellants to produce all the documents in support of their case. The appeals are allowed by way of remand ordered accordingly." Following the ratio of ....