2015 (8) TMI 423

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....AJI VARGHESE JUDGMENT Antony Dominic,J. This appeal is filed by the Revenue challenging the order passed by the Income Tax Appellate Tribunal, Cochin Bench in ITA No.194 of 1999 concerning the assessment year 1982-1983. By the said order, the Tribunal dismissed the appeal filed by the Revenue seeking to set aside the order passed by the Commissioner of Income Tax (Appeals) whereby the app....

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.... of Income Tax (Appeals) held it to be a capital expenditure on the basis that installation of the machinery was not completed in the previous assessment year. 4. Relying on that observation made in the appellate order, the assessment for the year 1982-1983 was re-opened and in Annexure-A order, the Assessing Officer withdrew the investment allowance and depreciation originally granted. This or....

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....had produced before the Assessing Officer a bill issued it for undertaking printing work. However, the Assessing Officer declined to act upon that bill stating that it lacked any evidentiary value. The reason for such conclusion was that it was issued to a related company. On this aspect, the Tribunal has rightly held that in the absence of any other justifiable vitiating circumstances, the Assess....