2010 (10) TMI 561

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.... by the Revenue is directed against the order of the learned CIT(A) dt. 16th Oct., 2006 pertaining to asst. yr. 2003-04.   2. The issue raised is that learned CIT(A) erred in law in directing the AO to allow depreciation @ 10 per cent on plinths amounting to Rs. 21,77,922 as claimed by the assessee and disallowed by the AO.   3. The brief facts of the case are that the assessee con....

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....epair and maintenance. Later on by order under s. 154 dt. 30th Dec., 2004, the AO allowed deduction on account of interest amounting to Rs. 20,34,023 on borrowed capital used for construction of the said commercial plinths and plinths and godowns.   4. Upon assessee's appeal learned CIT(A) referred several case laws and held that:-   "Therefore, the case of assessee is covered by t....

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....se as well as in group cases. We find that in assessee's own case in ITA No. 3932 and 3934/Del/2007 for asst. yrs. 2004-05 and 2005-06, the Tribunal, Delhi Bench vide order dt. 11th April, 2008 has held as under:-   "We have carefully considered the facts of the case, gone through the assessment order as well as order of learned CIT(A) and also the arguments raised by the learned Departmen....

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.... order of the learned CIT(A) vide which it has been held that such income was assessable under the head 'Income from business or profession'. We uphold his order and Departmental appeals are dismissed."   7. Again in assessee's own case in ITA No. 3679/Del/2009 for asst. yr. 2006-07, the Tribunal, Delhi Bench, vide order dt. 15th April, 2010 has held as under:-   "We have heard the....