2015 (11) TMI 1265

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pening of assessment under Section 147 of the Income-tax Act, 1961 (in short 'the Act'). 3. Dr. Anita Sumanth, the Ld.counsel for the assessee, submitted that the assessee asked for the reasons for reopening in the light of the judgment of the Apex Court in GKN Driveshafts (India) Ltd. v. ITO 259 ITR 19. However, the reasons were not furnished. The Ld.counsel further submitted that however, in the course of appellate proceedings, the reasons were brought to the notice of the assessee. According to the Ld.counsel, when the assessee was not furnished the reasons, the entire proceeding is vitiated. Therefore, the assessment order does not stand in the eye of law. 4. Coming to the merit of the appeal, the Ld.counsel submitted that the ass....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....her reliance on the judgment of the Madras High Court in Geetha Hotels (P) Ltd. v. CIT (2002) 254 ITR 649. Referring to the judgment of Apex Court in CIT v. Anand Theatres (2000) 244 ITR 192, the Ld.counsel submitted that the temporary structure erected by the assessee would fall within the definition of "building". Therefore, it is entitled for depreciation @ 100%. 6. On the contrary, Sh. P. Radhakrishnan, the Ld. Departmental Representative, submitted that the assessee erected the Jetty for transport of iron ore in Ennore Port Trust. Referring to subsequent amendment made to the agreement, the Ld. D.R. pointed out that the assessee was allowed to continue till 31.03.2010 or the Ennore Port allows operations of temporary Jetty, whicheve....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hree years from the end of the commencement of operation. In fact, para 6.1 reads as follows:- "The BOT Operator shall operate the jetty and other ironore loading facilities for a period of three years from the date of commencement of vessel loading operation. On cessation of operations at the end of three years, the BOT Operator shall dismantle and remove all the equipments / structures installed including the Jetty at his own cost." This condition was further modified by saying as under:- "BOT operator shall operate the Jetty and other Iron Ore Facilities till such time as Ennore Port allows operations or for a period of three months from 24.06.09 whichever is earlier and which period may be extended by MMTC on the same rates and....