TaxTMI 
TaxTMI 
2010 (10) TMI 1115
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....R 1 According to the Revenue the following question of law arises out of the order dated 10.10.2006 passed by the ITAT. "Whether on the facts and in the circumstance of the case and in law the Tribunal was right in setting aside the order of the Appellant Commissioner dated 14.02.2005 that was passed u/s. 263 of the Act which held that the Assessee Company, at the time of framing the original a....
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....1 passed an order holding that the assessment order was erroneous and prejudicial to the interest of revenue, as the Assessing Officer ought to have taken into consideration the depreciation while computing the deduction under Section 80O of the Act. The Tribunal has set aside the order of the CIT on the ground that in view of various decisions of the Tribunal the decision taken by the A.O. was on....
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....tion under Section 263 of the Act on 14.02.2005 the ITAT in its decision dated 10.02.2004 in the case of Plastiblends India Ltd v/s. ITO reported in (2005) 94 ITD 295 (Mum) had distinguished the judgment of this court in the case of Indian Rayon Corporation Ltd. (Supra) and held that the said decision would apply only in cases where depreciation has been claimed in computing business income and no....