IN THE MADRAS HIGH COURT

M. SATHYANARAYANAN, J. & ABDUL QUDDHOSE, J.

Ramco Industries Ltd. v. Dy. CIT

TCA Nos. 833 & 835 of 2018

4 March, 2020

In favour of the Assessee.

Appellant by : P.J. Rishikesh

Respondent by : V. Pushpa

M. Sathyanarayanan, J.

By consent, both the Tax Case Appeals are taken up together for final hearing and are disposed of by this common judgment.

2. The facts narrated in brief, for the purpose of disposal of these appeals, are as follows:-

1. The assessee company is the appellant herein and it is carrying on the business of building products like asbestos etc., and it filed its return of income for the assessment year 2012-13 on 21-9-2012 with a returned income of Rs. 38,22,56,810 and the same was processed under section 143(1) of the Income Tax Act, 1961, (in short Act ) on 21-8-2014 and it was selected for scrutiny. A notice under section 143(2) of the Income Tax Act was issued on 8-8-2013 and thereafter, it was heard on various occasions. The issue only pertains to the claim of depreciation with regard to machineries used by the appellant/assessee Company for Pollution Control Measures.