The Cit v. M/S.sanjay Knit Pvt.ltd

K.J. IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.1977 OF 2004 IN INCOME TAX APPEAL (L) NO.811 OF 2004 The CIT ..Appellant Versus M/s.Sanjay Knit Pvt.Ltd., ..Respondents ---- Mr.A.D.Kango & Mr.P.S.Sahadevan for the appellant. ---- Coram : F.I.Rebello & R.S.Mohite,JJ Coram : F.I.Rebello & R.S.Mohite,JJ Coram : F.I.Rebello & R.S.Mohite,JJ Date : 26th March, 2008. PC 1. There is a delay of 48 days. We have also heard the learned Counsel for revenue on admission of appeal. For the reasons given, delay condoned. Office to register the appeal. INCOME TAX APPEAL (L) NO.811 OF 2004 . The assessee constructed bus shelters for Pune Municipal Transport Undertaking and in return was entitled to display advertisements on payment of rent as set out in the order. Commissioner (Appeals) on the facts arrived at the conclusion that the same was not a capital expenditure but revenue expenditure and accordingly allowed the appeal. : 2 : 2. In the appeal preferred by revenue before ITAT the Tribunal recorded finding that in so far as the asset is concerned, assessee is not entitled to any depreciation and the same can be claimed by the Corporation. On the facts held that the expenditure is in the nature of revenue expenditure. These are purely findings of fact. The question as framed would not arise and consequently, appeal dismissed. (R.S.Mohite,J) (F.I.Rebello,J) (R.S.Mohite,J) (F.I.Rebello,J)