2014 (7) TMI 1159

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....sessee has claimed additional depreciation on plant and machinery during the assessment year under consideration as per provisions of section 32(1)(iia) of the I.T. Act which was denied by the Assessing officer on the reason that the assessee is engaged in printing of newspapers and the said activity of the assessee does not amount to manufacturing or production of a new article or thing. 4. On appeal, the CIT(A) allowed this claim of the assessee by placing reliance on the CBDT letter in F.No. 91/60/66-ITJ dated 09-05-1967. He also relied on the judgments of the Hon'ble Gujarat High Court in the case of Ajay Printery (P) Ltd., (1965) 58 ITR 811, Hon'ble Madras High Court in the case of CIT vs. Commercial Laws of India Pvt. Ltd. (1977) 107....

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....onal depreciation u/s. 32(1)(iia) of the Act. 6. On the other hand, the Ld. AR by relying on the following judgments of the High Courts submitted that the activity of printing of newspapers is also manufacture or production of any article or thing: 1. CIT vs. Delhi Press Patra Prakashan - 355 ITR 14(Delhi). 2. CIT vs. Ajay Printery Private Limited - 58 ITR 811 (Gujarat). 3. Orient Longman Limited vs. CIT - 130 ITR 477 (Delhi). 4. CIT vs. Hindustan Times Limited - 241 ITR 509 (Delhi). 5. CIT vs. Eastern Book Company - 322 ITR 605 (Allahabad). 6. CIT vs. Hindustan News Print - 30 DTR 58 (Kerala). The Ld. AR also relied on the following CBDT circulars in support of his contention. 1. F.No. 91/60/66 ITJ dated 09-05-1967. 2. Circular N....