2018 (6) TMI 86

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....e learned Commissioner of Income-tax (Appeals) in deleting the disallowance of Rs. 98,18,225 made by the Assessing Officer on account of the alleged wrong claim of the assessee-company for excess depreciation on power plant. 2. As noted at the outset, there is a delay of six days on the part of the Revenue in filing this appeal before the Tribunal. In this regard, the Revenue has filed an application seeking condonation of the said delay and keeping in view the submissions made therein which are duly supported by an affidavit filed by the concerned Assessing Officer, we are satisfied that there was a sufficient cause for the delay of six days on the part of the Revenue in filing this appeal before the Tribunal. Even the learned counsel f....

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....e an order passed by him under section 263 with the direction to the Assessing Officer to pass an order de-novo after carrying out necessary verification of the facts and figures. 4. In pursuance of the order passed by the learned Commissioner of Income-tax under section 263, fresh assessment proceedings were initiated by the Assessing Officer and since there was no compliance on the part of the assessee to the notices issued by him fixing the case of the assessee for hearing from time to time, the Assessing Officer completed the assessment ex parte under section 144/263/143(3) vide an order dated March 21, 2014. In the assessment so completed, the claim of the assessee for depreciation of Rs. 1,96,36,450 on the power plant was restricte....