(Per : HONOURABLE MR.JUSTICE V. M. SAHAI) We have heard Mr. Deepak Shah, learned counsel for the appellant and Mr. K.M.Parikh for the opponents.
Admit.
We formulate the following substantial questions of law.
"Whether, in the facts and in the circumstances of the case the tribunal has erred in law in upholding the action of the Assessing Officer to reduce the total unabsorbed depreciation claim by Rs. 246.78 Lacs which represents the amount computed by redetermining the brought forward depreciation of several earlier assessment years without disturbing the assessment from A.Y. 1995-96 A.Y. 2002-03 ?"
Whether in the facts and circumstances of the case, the Tribunal has erred in law in relying upon the decision of Hon'ble Apex Court in case of Saharanpur Electricity Supply Company 194 ITR 294 (SC) through the same is not applicable to the facts of the case of the appellant?
Whether in the facts and in the circumstances of the case the tribunal has erred in law in brushing aside the alternative submission of the appellant to direct the A.O. To reduce the WDV of the Assets for the current year by Rs. 292.18 Lacs as per specific provision of Section 50 of the Act in view of the Order dated 23.12.2002 of the BIFR?"
Issue notice to the respondents. Paper book be filed with in three months.
(V.
M. SAHAI,J.) (N.V.
ANJARIA,J.) deepak Top