2018 (11) TMI 602

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....ndent O R D E R This appeal by the Revenue under Section 260A of the Income Tax Act, 1961 ('Act' for short) in the case of Neel Metal Products Limited relates to the Assessment Year 2010-11 and arises from the order of the Income Tax Appellate Tribunal ('Tribunal' for short) dated 16th March, 2018 passed in ITA No.6021/Del/2015. 2. The first issue raised by the Revenue pertains to deletio....

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.... issue raised by the Revenue pertain to depreciation. The respondent-assessee had claimed depreciation @15% per annum on different items mentioned in paragraph 7 of the order passed by the Commissioner of Income Tax (Appeals), as plant and machinery. The Assessing Officer and the first appellate authority had held that the respondent-assessee was entitled to depreciation @ 10% as the items were el....

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....ground that the canteen contractor had submitted the final bill on 27th April, 2010, i.e. after the end of the financial year. However, the Commissioner of Income Tax (Appeals), had rightly observed and held that mere submission of the final bill by the canteen contractor would not show that the canteen had not been put to use and was not operationalized in the Assessment Year itself. After examin....