Dismissing the appeals the Court held that  there was no scientific basis for fixation of the value of the second-hand windmill at Rs. 1. 50 crores and such fixation had been done based on the personal opinion of the Commissioner (Appeals). Therefore, the Tribunal was fully justified in allowing the Department’s appeal. With regard to the assessee’s appeal, the Tribunal had reappreciated the facts and found that the manufacturer of the windmill had certified that the windmill, which was sold to the assessee was no more in the market and the technology had become obsolete. The Tribunal had also considered the effect of a report of the Government valuer and Explanation 3 to section 43(1) , which required the Assessing Officer to arrive at an objective satisfaction and had observed that valuations were relevant in ordinary circumstances, but when cumulative depreciation claimed was far in excess of the cost, the valuation report of the approved valuer was insignificant and thus held that the order passed by the Assessing Officer required no interference. No question of law arose.( AY.2009-10)