Itta/169/2013 Of The Commissioner Of Income Tax Iv v. M/S. Nav Bharat Enterprises Limited

IN THE HIGH COURT OF JUDICATURE, ANDHRAPRADESH AT HYDERABAD TUESDAY, THE SECOND DAY OF JULYTWO THOUSAND AND THIRTEEN PRESENT THE HON’BLE THE CHIEF JUSTICESRI KALYAN JYOTI SEN GUPTA AND THE HON'BLE MS. JUSTICE G.ROHINI I.T.T.A. No.169 OF 2013 Between:Commissioner of Income Tax-IVHyderabad ..... Appellant AND Dr. P.Ravishankar .....Respondent The Court made the following : JUDGMENT:(per the Hon’ble the Chief Justice Sri K.J. Sengupta) This appeal is sought to be admitted on the following suggested question of law: Whether in the facts and circumstances ofthe case and in law, Hon’ble ITAT is justified inholding that depreciation is allowable on assetsincluded in the block of assets without consideringthe fact that the assessee has not put such assets touse during the relevant previous year ended on31.3.2005? This appeal has been preferred against thejudgment and order of the learned Tribunal dated3.8.2012 in relation to the assessment year 2005-2006.The learned Tribunal while rendering the judgmentrecorded fact-finding that the assessee had not stoppedits business activities and the block of assets are put inuse of such business. Under the circumstances,depreciation has to be allowed in law, as provided underSec. 32 of the Income Tax Act, 1961. Section 32 (1)provides that the depreciation of buildings, machinery,plant or furniture being tangible assets, owned wholly orpartly, by the assessee and used for the purposes of thebusiness or profession, the following deductions shall be allowed (i)……….. (ii) in the case of any block of assets, suchpercentage on the written down value thereof as maybe prescribed. Under the circumstances, no question of lawrequires to be decided, as the application of law dependsupon the fact-finding and the fact-finding has been arrivedat by both the authorities below Therefore, we do not see any ground to interferewith the impugned judgment and order. Consequently, theappeal is dismissed. No order as to costs. _______________________ Kalyan Jyoti Sengupta, CJ. July 02, 2013MAS __________G.Rohini, J.