TaxTMI 
TaxTMI 
2018 (12) TMI 1634
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....or the Revenue : Shri Surender Pal, Sr. DR ORDER PER K. NARASIMHA CHARY, JM Challenging the order dated 14/07/2014 in Appeal No. 389/11-12, passed by the learned Commissioner of Income Tax (Appeals)-XVII, Delhi ("Ld. CIT(A)"), the revenue filed ITA 5709/del/2014 and the assessee filed cross objection No. 201/del/2017. 2. Brief facts of the case relevant for the disposal of this appeal arethat ....
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....reciation was disallowed and assessment was completed accordingly. Inasmuch as the assessee claimed depreciation at excessive rates on such plantand machineryfor the assessment year 2007-08 also and the assessee is not entitled for the same, Ld. AO initiated the proceedings under section 147 of the Act. Assessee placed reliance on the decision of the Hon'ble jurisdictional High Court in the case o....
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....the assessee i.e. oil rigs owned by them and are leased out to various mineral oil concerns like Reliance Industries Limited, Orles Ltd and ONGC Ltd and claimed 60% deposition on such rigs. Ld. CIT(A) observed that the AO did not discuss the issue of the specific plant and machinery but ultimately held that the assessee is not a mineral oil concern and did not fulfill one of the basic conditions t....
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.... judicial High Court in the case of HLS India Ltd (supra), was dismissed by the Hon'ble apex court in SLP (civil) No. 2723/2012 by order dated 16/02/2012. A copy of the order is produced and we have perused the same. It could be seen from the assessment order, it is not the case of the revenue that the ratio laid down by the Hon'ble jurisdictional High Court in the case of the HLS India Ltd (supra....