2014 (9) TMI 573

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.... appeal is preferred by the assessee, against the order dated 06.11.2001 in I.T.A. No.756/H/97, passed by the Income Tax Appellate Tribunal, Visakhapatnam Bench (in short the Tribunal). The subject matter is the returns filed by the respondent for the assessment year 1996-1997. The short question involved is as to whether the assessee is entitled to claim depreciation on the tanker No.AP-16-V/676....

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.... products and supply of water is not the business of the assessee and thus the claim for depreciation is not in order. In the appeal preferred by the assessee the appellate authority concurred with the version of the Assessing Officer. On further appeal, the Tribunal held that the claim of the assessee that the tanker was given on hire for the purpose of supply of water is not supported by eviden....

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.... support his contention. Sri J.V. Prasad, learned standing counsel for the department submits that the finding of the fact recorded by the Tribunal that the vehicle was not used during the relevant accounting year, has not been challenged by raising any plea of perversity. He contends that in the absence of such challenge, the appeal is liable to be dismissed as the finding of fact by the Tribuna....