1981 (5) TMI 38

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....uction made from assessment made for the year 1977-78, the departmental representative sought to impugne the order passed under s. 154 for the aforesaid year by the CIT on 7th April, 1980. The revenue was estopped because in an appeal against the substantive order passed in appeal, it could not impugne an order passed under s. 154 although the issues may be the same because both orders being separ....

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....contention raised in this appeal is against the ITO's action not to allow depreciation on building on the ground that it was not registered in the name of the appellant company, at the time of its incorporation. It may be pointed out here that the depreciation on this building had already been allowed by the ITO himself in the assessment for the asst. yr. 1976-77 which consisted of a part of the o....

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....ation has got to be allowed. In fact not only for the asst. yr. 1976-77 but also in the succeeding asst. yr. 1978-79 the depreciation has already been allowed by the ITO himself under these circumstances. The ITO is directed to allow the depreciation on the building for the asst. yr. 1977-78 on the basis of the WDV of the building as under: 1976-77WDV Rs. 25,068 Additions in that year ....

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.... 127 ITR 97 (All) where a contrary view has been taken. Similarly Rajasthan High Court in the case of CIT vs. Amber Corporation (1981) 127 ITR 29 (Raj). Both High Courts have interpreted that the term 'owned by the assessee' does not raised on them nor could they be made subject matter of any dealings. During the relevant previous year for the assessment under consideration, M/s. N.P. Internationa....