2024 (9) TMI 1454

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....anan For the Appellant : Mr.Akhil R.Bhansali For the Respondent : Mr.V.Mahalingam Senior Standing Counsel Assisted by Mrs.S.Premalatha Junior Standing Counsel JUDGMENT C. SARAVANAN, J. A learned Single Judge of this Court, vide common order dated 23.04.2021, dismissed W.P.Nos.8171 and 30659 of 2014. This writ appeal is directed against the said order dismissing W.P.No.30659 of 2014, whereby, ....

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.... W.P.No.30659 of 2014. 3. The brief facts of the case are that the appellant had leased out computer items to Neyveli Lignite Corporation (NLC) and had signed a Tripartite Lease Agreement dated 26.05.2006. In terms of clause 2.1, it was specifically agreed that only NLC alone will avail income tax depreciation. The relevant clause in the aforesaid Tripartite Lease Agreement dated 26.05.2006 reads....

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....assessment year 2007-08 under Section 148(3) of the Income Tax Act, 1961 and invocation of power under Section 148, ibid., for the purpose of Section 147, ibid., on 01.03.2013 was bad and therefore, overruling of the objection of the appellant was bad. Consequently, the impugned assessment order dated 24.10.2014 was also without jurisdiction. 5. As a matter of fact, the issue on the availability ....

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....nue expenditure in the hands of the lessee. This reaffirms the position that the assessee is in fact the owner of the vehicle, insofar as Section 32 of the Act is concerned." Thus, there is prima facie indication that there are merits in the claim of the appellant. 6. We are, therefore, of the view that no useful purpose will be served by remitting the matter to the learned Single Judge to pass ....