2018 (7) TMI 2095

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....satisfied with the impugned order passed by the learned Income Tax Appellate Tribunal Bench "A", Ahmedabad (hereinafter referred to as "the learned Tribunal") in Babul Products (P.) Ltd. v. Asstt. CIT [2017] 167 ITO 402 (Ahd. - Trib.) by which the learned Tribunal has allowed the said Appeal preferred by the assessee and deleted the addition made on account of disallowance of depreciation of Rs. 3....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f cessation of liability?" 2. We have heard Mrs Mauna Bhatt, learned advocate appearing on behalf of the revenue. So far as proposed question no.(a) is concerned, learned Assessing Officer disallowed the depreciation claimed by the assessee of Rs. 34,03,491/- on the ground that the factory of the assessee is closed, and therefore, the assessee is not using the assets for which the depreciation ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....preme Court in the case of Commissioner v. Mahindra & Mahindra Ltd. [2018] 93 taxmann.com 32/255 Taxman 305. The factual matrix, which came to be considered by the learned Tribunal is that the learned Tribunal while deleting the addition made under Section 41(1) of the Income Tax Act on account of cessation of the liability, namely, the assessee had not written off the liability in the books of ac....