2017 (8) TMI 1312

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... ORDER J. Sudhakar Reddy (Accountant Member) This appeal filed by the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals)-IV, Kolkata (hereinafter the 'ld. CIT(A)'), passed u/s 250 of the Income Tax Act, 1961 (the 'Act'), dt. 06/08/2014, for the Assessment Year 2005-06. 2. None appeared on behalf of the Revenue. There is no petition for adjournment ei....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Fly-Ash extraction Plant of the Company situated at Unchahar near Raebareli, Uttar Pradesh has not been operative during the year as Feroze Gandhi Unchahar Thermal Power Project of NTPC stopped the movement of fly Ash Carriers wrongfully. Necessary legal action has been undertaken and order have been passed directing NTPC to resume supply of dry fly ash. However, NTPC has filed appeal against suc....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ent of using of the plant and machinery, by the assessee, during the Financial Year, does not arise. For this proposition we rely on the decision of the Hyderabad Bench of the ITAT in the case of Natco Exports vs Dy. Commissioner of Income Tax, order dt. 11th June 2002, 2003 86 ITD 445 Hyd, wherein it was held as follows:- "(b) The CIT(A) ought to have seen that when once the value of ass....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of the ITAT in the case of Inductotherm (India) Ltd. (supra) and the judgment of the Patna Bench of the ITAT in the case of Parikh Engg. & Body Bldg. Co. Ltd. (supra). Therefore, in view of the decisions and interpretation of the concept of "block of assets" depreciation on ponds which is forming part of the block of assets has to be allowed as deduction even though these ponds were discarded and ....