Commissioner Of Income Tax v. M/S Water Ways Shipyard Pvt. Ltd

IN THE HIGH COURT OF BOMBAY AT GOA TAX APPEAL NO. 54 OF 2014 COMMISSIONER OF INCOME TAX Versus M/S WATER WAYS SHIPYARD PVT. LTD., ... Appellant... Respondent Ms. Asha A. Desai, Advocate for the appellant.Mr. Shivan Desai, Advocate for the respondent. -Coram:R. M. BORDE &F. M. REIS, JJ.-Date:10th November, 2014 P.C.:- Heard. The Revenue has filed this appeal objecting to the depreciation of Rs.91,39,468/- allowed by the Appellate Forum onShip "M.V. Maanav Star" contending that during the financial year the ship was not put to use for the purpose of business of theAssessee Company. The Appellate Forum has recorded a finding offacts based on the documentary evidence to prove, that the Vessel"M.V. Maanav Star" was actually put to use during the year underconsideration and as such, the Assessing Officer is directed to allow the depreciation of Rs. 91,39,468/- and delete the addition made onthis aspect. 2. On considering the arguments of the learned Counselappearing for the appellant, it is noticed that the appellant is not in aposition to substantiate the objection even at this stage. In that view of the matter, the Appellate Forum cannot be said to have committedany error in allowing the depreciation. The appeal is devoid of anysubstance. Hence dismissed. ssm. F. M. REIS, J. R. M. BORDE, J.