2015 (10) TMI 2742

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....is a private limited company and is engaged in the business of manufacture and sale of alloy steel castings, foundry equipments, hiring of gas cylinders and generation of electricity from windmill. The assessee filed its return of income for the impugned assessment year on 28.09.2011 declaring total income of Rs. 7,85,94,683/-. During the course of scrutiny assessment, the Assessing Officer made disallowance of depreciation claimed by the assessee on windmill. The assessee had claimed depreciation on Rs. 6,65,08,380/- i.e. entire cost of windmill unit including concrete base structure and electrical installations. The Assessing Officer held that civil construction and electrical fittings are not part of windmill, therefore, these components....

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.... Pvt. Ltd. Sangli - ITA No.1495/PN/2011 dated 30.01.13 (Pune Bench "B") 4. Kutti Spinners (P.) Ltd. (2014) 51 taxmann.com 534 (Chennai - Trib.) 5. On the other hand, Shri Hitendra Ninave representing the Department, vehemently supported the findings of Commissioner of Income Tax (Appeals) and prayed for dismissing the appeal of the assessee. 6. We have heard the submissions made by the representatives of both sides and have perused the orders of the authorities below. We have also considered the decisions on which the ld. AR has placed reliance in support of his submissions. The only issue raised in the appeal is whether the civil work forming the foundation of windmill and electrical installations are integral part of windmill and elig....