2020 (9) TMI 313

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Shri Vidhyut Trivedi, Sr. D.R. ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- This assessee's appeal for A.Y. 2013-14, arises from order of the CIT(A)-1, Ahmedabad dated 31-10-2017, in proceedings under section 143(3) of the Income Tax Act, 1961; in short "the Act". 2. The solitary ground of appeal of the assessee is against the decision of ld. CIT(A) in confirming the action of the a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed in proper condition it has incurred expenses for renovation of drivers cabin etc. Therefore, the said amount was capitalized and depreciation was claimed at 50% as it is in the same block of asset. The assessing officer has not agreed with the submission of the assessee and restricted the claim of depreciation @ 30% and disallowed excess claim of depreciation to the amount of Rs. 13,86,331/-....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... ld. departmental representative has supported the order of lower authorities. 6. We have heard both the sides and perused the material on record. During the course of assessment, the assessee has claimed depreciation @ 50% i.e. on tankers. During the course of assessment, the assessing officer has restricted the claim of depreciation @ 30% in respect of addition made to such commercial vehi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tion of the commercial vehicle. Therefore, the claim of the assessee for depreciation @ 50% applicable to the particular block of assets is justified. Accordingly, we direct the assessing officer to provide the depreciation @ 50% applicable to the block of assets in the case of the assessee. Accordingly, this appeal of the assessee is allowed. 7. Ground No.2 is not pressed, so, the same is dism....