2011 (7) TMI 23

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....ABLE MR.JUSTICE AKIL KURESHI)   Revenue is in Appeal against the judgment of the Tribunal dated 30th November 2009, raising following question for our consideration :-   "Whether the Appellate Tribunal is right in law and on facts in assuming jurisdiction u/s. 254 (2) of the Act and thereby reviewing the earlier order passed on merits ?"   Appeal arises in the following fac....

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....wholly and exclusively for the business purposes of the appellant and by this way, the appellant was able to maintain and control the quality of the materials etc. Hence, the A.O. was not justified in disallowing the depreciation in respect of this building. The addition made is directed to be deleted."   Revenue carried the issue before the Tribunal. The Tribunal, initially by its Order d....

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....assessee but actually the building is not used for the business of the assessee . Accordingly, the depreciation is rightly allowed by the Assessing Officer and we reverse the order of CIT [A] of this issue. This common issue of the Revenue's Appeals is allowed. "   Since the assessee was of the opinion that the Tribunal had committed factual error in recording that the assessee is a subsid....

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....he subsidiary company elsewhere. Accordingly, the business premises were fully used for the business purposes of the assessee company and for no other purpose and therefore the assessee company is clearly eligible for grant of depreciation in respect of the whole business premises. Accordingly, we amend the findings of the Tribunal to that extent and allow these MCAs of the assessee. Accordingly, ....