80IA of the Act. Admittedly, the
assessee has set up 5 wind mills out of which two wind mills are set up in
the financial ... relevant A.Ys. 2005- 06 and 2006-07 and remaining 3
wind mills have been set up during the financial year relevant
next issue for the A.Y.2011-12 is depreciation on wind mill.
The assessee claimed the depreciation on wind mill to the extent ... capitalized. The assessee produced the evidence for
commissioning of the said wind mill from Gujarat Energy Development
Agency, a Government of Gujarat Organisation and also
80IA of the Act. Admittedly, the assessee
has set up 5 wind mills out of which two wind mills are
set up in the financial ... relevant A.Ys. 2005-06 and
2006-07 and remaining 3 wind mills have been set up
during the financial year relevant
80IA of the Act. Admittedly, the assessee has set up 5 wind mills
out of which two wind mills are set up in the financial ... relevant A.Ys. 2005-
06 and 2006-07 and remaining 3 wind mills have been set up during the
financial year relevant
respect of profit derived from
wind mills.
2.1. Briefly the facts relevant to the aforesaid issue in
dispute are, assessee a public limited company ... Merwar Oil and General Mills Ltd. ,
(271 ITR page 33); Velayudha Swamy Spinning Mills P.
Ltd., vs. ACIT; Sudan Spinning Mills P. Ltd., vs. ACIT
funds were borrowed for the
purpose of erection and commission of Wind Mill.
3. The CIT(A) erred in deleting addition made ... reproduced as under :
" 4. End Utilisation of loan amount of Wind Mill and
connection of this loan with the Wind Mill Project : In this
funds were borrowed for the
purpose of erection and commission of Wind Mill.
3. The CIT(A) erred in deleting addition made ... reproduced as under :
" 4. End Utilisation of loan amount of Wind Mill and
connection of this loan with the Wind Mill Project : In this
have considered that the electric
generators are ancillary to run the Wind Mills and cannot be
considered as Wind Mill which block of asset ... same
are part of the wind power projects and the wind power projects
cannot be operational without the wind electric generators.
10. It is observed
that the wind electric generators are the
part of the wind power projects. The wind power projects cannot
be operational without the wind electric generators ... supplied by them to assessee is not just wind electric generator but
the complete wind mill unit consisting of the following components:
1. Gear
been charged for supply, erection and
commissioning of wind electrical generators. The seller of the wind
mill equipment has also issued a certificate, a copy ... supplied by them to assessee is not just wind electric generator but
the complete wind mill unit consisting of the following components:
1. Gear
