:1: bgp bgp bgp IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME INCOME INCOME TAX APPEAL NO.737 OF 2008 TAX APPEAL NO.737 OF 2008 TAX APPEAL NO.737 OF 2008 The Commissioner of Income Tax, ..Appellant Vs. M/s.Chemidye Mfg. Co.Pvt.Ltd. ..Respondent Mr.Parag Vyas for the Appellant. Mr.S.S.Shetty for the Respondent. CORAM CORAM CORAM :- DR.S.RADHAKRISHNAN & :- DR.S.RADHAKRISHNAN & :- DR.S.RADHAKRISHNAN & S.J.KATHAWALLA, S.J.KATHAWALLA, S.J.KATHAWALLA, JJ. JJ. JJ. DATE DATE DATE : 9TH SEPTEMBER, 2008 : 9TH SEPTEMBER, 2008 : 9TH SEPTEMBER, 2008 P.C. P.C. P.C. 1. Heard the learned Counsel for the parties. In the above, the Appellant is seeking to raise the following substantial question of law: a. Whether on the facts and in circumstances of the case, the Hon’ble Tribunal are justified in law in confirming the order of the CIT (A) in directing the Assessing Officer to allow depreciation on Rs.60,47,000/- in respect of purchase of assets from M/s.Thirumalai Chemicals Limited (TCL) even though the Assessing Officer had rightly involved the provisions of Explanations (3) to section 43(1) of the Income Tax Act, allowing depreciation only on Rs.3,94,746/-? 2. We have perused the order dated 16th November,2007 passed by the Income Tax Appellate Tribunal, especially paragraph Nos.8 and 9 of the said order. In the said order, the Tribunal has given the detailed reasons concurring with the findings of the Commissioner of Income Tax (A), clearly holding that :2: both the Companies were entitled to deduction of depreciation and there is no undue benefit has been obtained by either of the two Companies. Having regard to the facts and circumstances of the case, the above findings are clearly findings of facts and we do not find any substantial question of law in the above. Hence, the Appeal stands dismissed. (S.J.KATHAWALLA,J.) (S.J.KATHAWALLA,J.) (S.J.KATHAWALLA,J.) (DR.S.RADHAKRISHNAN,J.) (DR.S.RADHAKRISHNAN,J.) (DR.S.RADHAKRISHNAN,J.)