ORDER 

Per Prashant M Maharishi, Accountant Member

1. This is are the two appeals for two assessment years involving common grounds, argued together by both the parties, therefore, and disposed of by this common order.

ITA number 1200/Del/2011 for assessment year 1999- 2000

2. This appeal is filed by IFCI Limited (‗the Appellant‘ ―Assessee) for assessment year 1999 -2000 against the common order of The Commissioner of Income Tax Appeals- XI, New Delhi ( Ld. CIT(A)) dated 30.12.2010 for assessment year 1999 – 2000 and 2000 – 2001.

3. Assessee has preferred following grounds of appeal:-

i. That the Commissioner of income tax (appeals) erred on facts and in law in upholding the action of the assessing officer in disallowing the deduction of ₹ 259,839,987/– claimed by the appellant on account of depreciation on plant and machinery given on lease to various parties.

ii. That the Commissioner of income tax (appeals) erred on facts and in law in not appreciating that the order passed by the assessing officer is without jurisdiction and bad in law in as much as the assessing officer have not followed the binding instructions of the honourable ITAT.

iii. That the Commissioner of income tax (appeals