HIGH COURT OF JUDICATURE AT HYDERABAD FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH PRESENT THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. NO.597 OF 2014 DATED:5.9.2014 Between:
Commissioner of Income Tax-III I.T. Towers A.C. Guards Hyderabad … Appellant And M/s. Vasundhara Rasayans Limited Shed No.42, Phase II, IDA Mallapur Hyderabad … Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. NO.597 OF 2014 JUDGMENT: (per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) This appeal is summarily dismissed as we noticed that the Tribunal has observed that the issue with regard to allowability of setting off unabsorbed depreciation is covered by the decision of the Hyderabad Bench ‘B’ of the Tribunal in I.T.A. No.2067/Hyd/2011 in the case of M/s. Derco Cooling Coils Ltd., Secunderabad v. I.T.O., Ward 1(2), Hyderabad, for the assessment year 2007-2008. It was observed that the facts are identical to that of earlier case.
In view of the aforesaid situation, we dismiss the appeal. There will be no order as to costs.
K.J. SENGUPTA, CJ SANJAY KUMAR, J 5.9.2014 bnr