| The Tax Publishers2020 TaxPub(DT) 0218 (Del-HC) INCOME TAX ACT, 1961
Section 32
What percentage of the meters are energy saving devices, being meters for measures of heat losses, furnace oil flow, steam flow, electric energy and power factor meters was not gone into by AO and Tribunal should have ensured that AO undertakes the said exercise and also determines whether the bus bars form an integral/inextricable part of the meters, hence, matter was remanded back to AO with a direction to strictly comply with the order of remand passed by Tribunal.
|
Depreciation - Depreciation on electronic meters/energy meters at the rate of 80% or 60% - -
Revenue assailed the order passed by Tribunal who held in favour of assessee that it was entitled to depreciation at the rate of 80% on electronic meters/energy meters. The Tribunal also took note of the submission of the Revenue that more than 60% of the meters are mechanically advanced meters which did not have any special feature entitling them to depreciation at the rate of 80%. Held: What percentage of the meters are energy saving devices, being meters for measures of heat losses, furnace oil flow, steam flow, electric energy and power factor meters was not gone into by AO. Therefore, Tribunal should have ensured that AO undertakes the said exercise and also determines whether the bus bars form an integral/inextricable part of the meters. Assessee submitted that electronic meters/energy meters, which are energy saving devices, are entitled to high depreciation at the rate of 80%. Tribunal stopped short of redirecting AO to deal with the real issues, on which the remand was made and those issues remain undetermined till date. Therefore, matter was remanded back to AO with a direction to strictly comply with the order of remand passed by Tribunal.
REFERRED : Pr. CIT v. BSES Rajdhani Power Ltd. [ITA 666/2016 With C.M.Nos.31882-31883/2016, ITA 254/2016, ITA 255/2016, ITA 256/2016, ITA 257/2016, ITA 258/2016, ITA 259/2016, ITA 260/2016, ITA 261/2016, ITA 282/2016, ITA 485/2016, ITA 492/2016, ITA 493/2016, ITA 494/2016, dt. 14-9-2016] BSES Rajdhani Power Ltd. v. ACIT [ITA No. 6222/DEL/2018, ITA No. 6223/DEL/2018, ITA No. 6224/DEL/2018, ITA No. 6225/DEL/2018, ITA No. 6226/DEL/2018, ITA No. 6227/DEL/2018, ITA No. 6228/DEL/2018 And ITA No. 6229/DEL/2018, dt. 25-3-2019] BSES Rajdhani Power Ltd. v. ACIT [ITA No. 3688, 3661, 606, 821, 1437, 1539, 3689, 3660, 1438, 1538/Del/2011, ITA No. 404, 584, 3922/Del/2012, ITA No. 4780, 5075/Del/2013, dt. 5-10-2015]
FAVOUR : In assessee's favour by way of remand
A.Y. :
 SUBSCRIBE FOR FULL CONTENT
|