Gujarat High Court
The vs Gujarat on 20 April, 2010
Gujarat High Court Case Information System
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TAXAP/53/2008 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX
APPEAL No. 53 of 2008
=========================================
THE
ASST. COMMISSIONER OF INCOME TAX, ANAND CIRCLE - Appellant(s)
Versus
GUJARAT
CO.OP. MILK MKTG. FEDERATION LTD. - Opponent(s)
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Appearance :
MR
KM PARIKH for
Appellant
MR SAURABH SOPARKAR, SR. ADVOCATE with MS BHUMI THAKORE
AND MS.PAURAMI SHETH FOR MRS SWATI SOPARKAR for
Respondents
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CORAM
:
HONOURABLE
MR.JUSTICE D.A.MEHTA
and
HONOURABLE
MS.JUSTICE H.N.DEVANI
Date
: 20/04/2010
ORAL
ORDER
(Per : HONOURABLE MS.JUSTICE H.N.DEVANI) Vide order dated 7.3.2008, this appeal had been admitted by formulating the following two questions :
1. Whether on the facts and in the circumstances of the case and in law, the ITAT was right in law in holding that assessee is entitled to claim depreciation on the 30% of the value of the plant and machinery received by way of Grant from NDDB under 70% loan and 30% Grant Scheme?
2. Whether on the facts and in the circumstances of the case, the ITAT was right in law to exclude the excise duty at the time of valuing closing stock at the end of accounting period?
It is an accepted position between the parties that the controversy raised vide question No.1 stands concluded by a decision of this Court in the case of Mahesana District Co-operative Milk Producers Union Ltd. v. Commissioner of Income Tax, (2002) 258 ITR 780, whereby the question has been answered in favour of assessee and against the revenue.
Insofar as question No.2 is concerned, the same stands concluded by a decision of this Court in the case of The Assistant Commissioner of Income Tax, Bharuch Circle v. Narmada Chamatur Petrochemicals Ltd. rendered on 06/07/08th April, 2010 in Tax Appeal No.852 of 2007 and cognate matters, whereby the question has been answered in favour of assessee and against the revenue.
In the light of the aforesaid decisions, both the questions are, accordingly, answered in the affirmative i.e. in favour of the assessee and against the revenue.
The appeal is, accordingly, dismissed with no order as to costs.
[D.A.MEHTA, J.] [HARSHA DEVANI, J.] parmar* Top