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[8/26, 08:37] Sekarreporter: Lordship Justice S.Vaidyanathan In the said order, Court, while disposing of the case, made it mandatory to cover bumper to bumper policy from 01.09.2021 for five years for new vehicles and directed the Additional Chief Secretary, Transport Department to issue a circular to all the Insurance Companies. [8/26, 08:38] Sekarreporter: 💐
by Sekar Reporter · Published August 26, 2021
Justice T.S.Sivagnanam and V.Bhawani Subbaroyan noted that the assessee’s vendor had claimed depreciation to the extent of Rs.3 Crores within six years and when the owner sells the windmill to the new purchaser, the new purchaser cannot get the same benefit for the enhanced value, as there is no additional wind energy capacity installed. Ultimately, the assessing officer disagreed with the assessee and disallowed the claim of depreciation to the tune of Rs.77,12,640. Thus, the court appreciated the factual position and came to the conclusion that the order passed by the assessing officer requires no interference.
by Sekar Reporter · Published September 16, 2020