2014 (3) TMI 185

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....able Mr. Justice Akil Kureshi) 1. Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal ("the Tribunal" for short) dated 28.12.2012 raising following questions of law for our consideration:- "[A] Whether the Appellate Tribunal has substantially erred in deleting the disallowance of claim of higher depreciation on leased back assets amounting to Rs.28,38,136/-? [B]....

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....ue of the leased out assets for the year under consideration. The Tribunal made the following observations:- "16. We have heard the rival contentions and perused the material on record. The assessee had not sold and leased back the new assets during the year, the depreciation claimed by the appellant on written down value of sale and lease back assets. The identical issue in assessee's own case....

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....t by following the Co-ordinate Bench decision in earlier year, we allow the appeal of the assessee in his favour and dismiss the revenue's appeal on these grounds." 3. Though learned counsel for the Revenue pointed out that the Revenue's appeal in the earlier years being Tax Appeal No.937 of 2011 has been admitted by this Court, on similar question, we notice that the issue of claiming higher r....