Karnataka High Court
The Commissioner Of Income Tax vs M/S Swarnagiri Wire Insulations Pvt Ltd on 27 May, 2011
Bench: N.Kumar, Aravind Kumar
" Ad'v:o.ca?t:'e _v _' "This. Inco'ri1e T--aX Appeal is filed 'under Section of the Income-Tax Act, 1961,, against order dated 21/05/2016 passed' in ITA N"o.20'O/BANG/201"0- ed%.7s,2o,339/~ ' ___,:_11 _o_per§ti___ .__ ' We of Power 5%" <-*n% 0n '6rWindmi11 er adjusting " _ fh¢ ' unabé 0_Y_b.'€'d__ _. de.precia;1;__1_§3'n'. _ » "'I'he_ a;3s$;::ssee ifi '1ft$ 'q--_1:* _. ali r'e1;ur1§1 gjf had shown the 'profits _f_r'c_2m its b'fusincss' '~«.,:%'a{§'f'iVvities' at 360 lakhs and after cléiming depreciatifin $55.56 lakfis, fufnished 'Nil' inc§me._ The claim' of _' depreciation was negated by the' Asséssing Officer ofi the ground as aforesaid that the. Windmill was not "ard t"o su ' equ If:
-d«é--pr€-c=iat'1.Qn _1-é3f_s'--=s/3inC0'rn€ from power' bus--i.n--ess against" the profits of 'of --c'oj.p*p*er wires and secondly that the' :S=e.cf~ ofh 8*0IA" of this Act' and' '$12.65? '0f f ' 's Om' othe.r s--o'u-I-C*es_ji_1.nder the same hiad -Snoft' H _ o .'ac1c:e-"pmt 'b:¢1'e1aa;;§se _s_=_L31.l$:)_~-;s'=1=:__c:ti'c3n --(6)-- co:1%x2::e§ _.~p.1.a't.eS*t=h3at' only the pihofiits Shall be t'ake'__n -i 1_*1to accaunt as if it 'was 'the only 'S.ou"Trce (if income. However, section 8OA(2)\/w~