2013 (2) TMI 764

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....dated 31.12.2009. The assessee's appeal is partly allowed and now the assessee moved this M.A. No. 227/ Ahd/ 2012, which is reproduced as under: "This miscellaneous application arises out of a order dated 14- 09-2012 (copy enclosed) passed by the Hon'ble ITAT, Bench "D" in the case of M/s. Gujarat Narmada Valley Fertilizers & Chemicals Ltd. [Formerly known as M/s. Gujarat Narmada Valley Fertilizers Co. Ltd.] vs. ACIT, Bharuch Range, Bharuch for A.Y. 2006-07 in respect of issue relating to disallowance of depreciation on leased assets. 1.0 Before the Hon'ble ITAT the applicant had raised the following ground No.4. in its Appeal No. 827/A/2010: "In law and in the facts and circumstances of the appellant's case, the ....

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....as allowed the ground of applicant in respect of depreciation disallowed on very same leased assets. The concluding para of the said decision is also reproduced in the para 15 of the order under consideration. It was also mentioned at the time of hearing that alleged leased assets i.e. Railway wagons were given on lease to Western Railway since A.Y. 1997-98. The applicant's claim of depreciation on such leased assets was allowed since A.Y. 1997-98 either by the AO in assessment proceedings or by the Hon'ble ITAT as mentioned above. The Hon'ble ITAT in earlier years has allowed the claim of depreciation after verifying the terms and conditions of the lease agreement as well as after considering the decision of H....