2007 (2) TMI 208

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....ve appeal is by the Revenue, relating to the assessment year 1993-94. The two questions of law that arise for consideration in this appeal are as follows: "1. Whether, in the facts and circumstances of the case, the Tribunal was right in holding that where the assessment was under section 115J for the earlier year, the assessee is entitled to excess depreciation? 2. Whether, in the facts and....

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.... the basis of book profit, unabsorbed depreciation, investment allowance and past losses would be treated as fully availed to the extent of statutory profits of the year. Hence, the written down value of the assets to be adopted for determining the depreciation would be after deduction of the depreciation calculated under the normal provisions of the Act in the earlier assessment year in which the....

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....ctification on a debatable issue, the Tribunal rejected the plea of the Revenue. Learned senior standing counsel fairly brought to our attention a decisions of this court reported in CIT v. Nameel Leathers and Uppers [2005] 273 ITR 350 and CIT v. Seshasayee Paper and Boards Ltd. [2006] 283 ITR 200, on the scope of section 143(1)(a) with reference to the jurisdiction available under section 154 ....