TaxTMI 
TaxTMI 
2009 (9) TMI 60
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....d Mills even though the main business of the assessee is not producing or generating of electricity? 2. Whether on the facts and circumstances of the case, the Tribunal was right in allowing additional depreciation under Section 32(1)(iia) on wind mill amounting to Rs.33,29,562/- and Rs.37,28,824/- respectively for assessment years 2003-2004 and 2004-2005 was proper? 3. Whether the Tribunal was right in not considering the judgment of a Co-ordinate Chennai Bench passed in ITA 2107/Mds/06 dated 25.06.2008 in the case of Texmo Industries which is binding on it and in favour of the revenue as it against the ratio of the judgment of the Constitution Bench of the Supreme Court reported in AIR 1989 SC 1933? 4. Whether the new machinery or plan....
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....that simply because a Co-ordinate Bench of the Tribunal had earlier taken a different view, the Tribunal on this occasion also ought to have followed the same. When we find that the Tribunal has applied the law correctly in the impugned order, there is no gain saying that there was an earlier order by the Co-ordinate Bench and therefore, for that reason, this time also the Tribunal should have blindly followed its own earlier decision even if such earlier decision did not reflect the correct position of the law. 4. As far as the contention based on Section 32(1)(iia) of the Act, is concerned, the assessment years pertain to 2003-2004 and 2004-2005. The provision, which is relevant for our purpose, reads as under: (iia) in the case ....
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....ricity Board. As far as application of Section 32(1)(iia) of the Act, is concerned, what is required to be satisfied in order to claim the additional depreciation is that the setting up of a new machinery or plant should have been acquired and installed after 31st March 2002 by an assessee, who was already engaged in the business of manufacture or production of any article or thing. The said provision does not state that the setting up of a new machinery or plant, which was acquired and installed upto 31.03.2002 should have any operational connectivity to the article or thing that was already being manufactured by the assessee. Therefore, the contention that the setting up of a wind mill has nothing to do with the power industry, name....