2021 (10) TMI 1468

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....ar. For the Respondent : Shri Ashok Kardam. (D.R.) ORDER Per Shri S.S. Godara, J.M. This assessee's appeal for Asst. Year 2012-13 arises from the Commissioner of Income Tax (Appeals)-7, Hyderabad's order dt.15.11.2016 passed in case No.0022/CIT(A)-7/2015-16 in proceedings under Section 143(3) of Income Tax Act, 1961 ('the Act'). Heard both the parties. Case file perused. 2. The a....

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....CIT(A) ought to have appreciated the fact that on closure of the working mine, the expenditure of Rs. 68,68,903/- incurred in existing and operating mines on account of salaries, wages, civil works, equipment's, stores and spares, proportionate interest, depreciation on assets utilized and other allocated overheads, which are basically of revenue nature, may be allowed as revenue expenditure o....

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.... Assessing Officer ought to have appreciated the fact that expenditure incurred in respect of development/sustenance of plant and machinery assumes the same character of plant and machinery, thereby eligible for depreciation at the same rate as applicable to plant and machinery. 8. The CIT(A) ought to have allowed depreciation on capital expenditure in coal mines, at the rate 15% applicab....