TaxTMI 
TaxTMI 
2013 (12) TMI 590
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....of rate of depreciation claimed on lorries to 25%. b) Disallowance of purchase of iron and steel of Rs. 6,59,164/-. c) Disallowance of a part of purchases of broken stones Rs. 1,08,876/-. 3. The facts relating to the above said issues are stated in brief. The assessee is an individual engaged in the business of execution contract works. He filed his return of income for the year under consideration declaring a total income of Rs. 16.93 lakhs. The Assessing Officer, however, completed the assessment at Rs. 40.83 lakhs by making various additions. The appeal filed by the assessee before the Ld. CIT(A) was partly allowed. Still aggrieved, the assessee is in appeal before us. 4. The first issue relates to the disallowance of part of depre....
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.... the record. We notice that the Hon'ble Supreme Court considered an identical issue in the case of CIT vs. Gupta Global Exim P. Ltd. (referred supra). In the said case, the assessee there in was in the business of timber trading and it also occasionally gave out on hire the trucks owned by it to outside parties. The Assessing Officer did not allow the higher rate of depreciation on the trucks on the ground that the assessee was not in the business of running the trucks for hire. The Commissioner (Appeals) allowed the higher rate of depreciation, as the income from hiring was included in the business income of the assessee. This was affirmed by the Appellate Tribunal and the High Court, on appeal, refused to interfere on the ground that the ....
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....ut motor lorries for running them to earn business income. The entire inference is drawn by the Commissioner of Income-tax(Appeals) only on the footing that the Assessing Officer had treated Rs. 12,59,639/- as part of total business income which is not determinative of the above test, viz., whether the trucks were used in the transportation business as claimed by the assessee". 8. In the instant case also, the relevant details were not furnished before us by either of the parties. Hence, we are unable to give a finding as to whether the assessee was carrying on the business of hiring also. Hence, in our view, this issue requires examination afresh at the end of the Assessing Officer in the light of the decision of the Hon'ble Supreme Cou....
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....s. The genuineness of the bills is further fortified by the fact that the assessee has made the payments by way of crossed A/c payee cheques. Hence, in our view, there is no reason to suspect the genuineness of the impugned bills. However, the assessee has failed to produce the photocopies of the relevant bills before us. Further, the Assessing Officer also did not record a finding that the bills have been authenticated by the concerned sellers. Hence, the claim of the assessee seems to have not been verified by anybody. Under these circumstances, we are of the view that the relevant bills require verification at the end of the Assessing Officer. Accordingly, we set aside the order of the Ld CIT(A) and restore the matter back to the file of....