TaxTMI 
TaxTMI 
2008 (9) TMI 29
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....HAKDHER BADAR DURREZ AHMED, J (ORAL) 1. This appeal by the revenue is directed against the order dated 15.02.2008 passed by the Income Tax Appellate Tribunal in ITA 775/Del/2006 pertaining to the assessment year 1998-99. The assessee had preferred the appeal before the Tribunal being aggrieved by the order passed by the Commissioner Income Tax under Section 263 of the Income Tax Act, 1961. The m....
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.... (supra) was in respect of Section 115J. The Tribunal held that that decision would be applicable in the present case. Following the decision of the Supreme Court in Apollo Tyres Ltd (supra), the Tribunal concluded as under:- "While the Assessing Officer would be well within his jurisdiction to compute depreciation under Section 32 on the rates provided in appendix-I to Income Tax Rules, 19....
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....s only the power of examining whether the books of account are certified by the authorities under the Companies Act as having been properly maintained in accordance with the Companies Act. The Assessing Officer thereafter has the limited power of making increases and reductions as provided for in the Explanation to the said section. To put it differently, the Assessing Officer does not have the ju....
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....d 115JB are analogous or not. It was unnecessary for the Tribunal to have gone into this aspect because the decision in Covai Maruthi paper and Board (P) Ltd (supra) was one which was rendered in the context of Section 115JA and the present case also arose in the context of Section 115 JA. The Tribunal was under a mistaken impression that the present case was one which fell under Section 115JB and....