(Per : HONOURABLE MR.JUSTICE V. M. SAHAI)
1. We have heard Mr. M.R.Bhatt, learned Senior counsel assisted by Ms.Mauna M.Bhatt, learned counsel appearing for the appellant.
2. Admit.
Connect with Tax Appeal Nos. 1027 of 2009 and Tax Appeal No.656 of 2010. We formulate the substantial question of law as under:
1. Whether the Appellate Tribunal is right in law and on facts in dismissing appeal of the Department by holding that depreciation of Rs. 9,04,59,142/- on assets leased to Rajasthan State Electricity Board under sale and lease back transaction, is allowable ?
2. Whether the Appellate Tribunal is right in law and on facts in dismissing appeal of the Department by holding that claim for business development expenses for Rs. 64,22,000/- was allowable even though the expenditure was held to be of gratuitous in nature ?
3. Issue notice to the respondent. Paper book be filed within three months.
(V.M.SAHAI,J) (N.V.ANJARIA,J) ***vcdarji Top