TaxTMI 
TaxTMI 
2019 (5) TMI 175
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....nt orders both dated 21.02.2015 passed by the Assessing Officer (AO) under s. 147 r.w.s. 143(3) of the Income-tax Act, 1961 (the Act) in AY 2011-12 and under s. 143(3) of the Act in AY 2012-2013. 2. As claimed on behalf of the assessee, the facts are similar and common issues are involved in both assessment years and therefore both the appeals were heard together and disposed of by common order. ITA No. 3425/Ahd/2015 - AY 2011-12 3. The grounds of appeal raised by the assessee read as under: "1. The Ld. CIT(A) has erred law as well as on facts in restricting the depreciation allowance at 15% in place of 30% and thereby confirming the disallowance of Rs. 41,25,205/-. 2. The Ld. CIT(A) has also erred in not granting....
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....tions. The rates of RMC are thus composite in nature comprising of mixture and transportation thereon. This being so, sales revenue also includes the transportation charges of transit mixture and consequently, the vehicle used for transit should be taken as vehicles used for 'hire'. Consequently, the higher rate of depreciation allowance @ 30% is eligible to the assessee as per the depreciation schedule and the Revenue authorities are not justified in not granting accelerated depreciation on the vehicle used for hire. The learned AR, in alternative, contended that even when the vehicle is not treated to be used in a business of running it on hire, the assessee would be entitled for additional depreciation on transit mixer which is m....
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....trate such narrative on facts as to whether the assessee has earned any receipt towards hire of vehicle in the so-called composite contract. No evidence has been produced to justify the presence of element of receipt on account of hire of vehicle. Therefore, the contention of the assessee is abstract and cannot be endorsed. Therefore, we decline to interfere with the action of the AO on this score. Ground No.1 is accordingly dismissed. 8.2 However, we find substantial force in the alternative claim raised by the assessee for allowability of additional depreciation on mixer mounted on the vehicle as eligible under s.32(1)(iia) of the Act. Section 32(1)(iia) of the Act provides for entitlement of additional depreciation in the case of new ....
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.... tax statement has been scaled down considerably. The learned AR pleaded that the AO should take note of the revised and corrected 26AS statement for determination of the true income of the assessee. The learned DR also fairly agreed on such contention. We find the plea of the assessee to be reasonable and fair. The issue is accordingly set aside and remitted back to the file of the AO for re-determining the income escaped assessment on this score, if any, after taking note of the revised figures embedded in the 26AS statement. The issue is accordingly restored to the file of the AO for its determination in accordance with law. Ground No.3 of the assessee's appeal is allowed for statistical purposes. 11. In the result, appeal of the ....