TEKSYSTEMS GLOBAL SERVICES PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE - 2(1), HYDERABAD

ITA 1145/HYD/2026Status: DisposedITAT Hyderabad24 June 2026AY 2017-1812 pages
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What were the facts?

The assessee claimed 50% depreciation on assets acquired as part of a business transfer. The Assessing Officer disallowed the entire claim, but the ITAT directed proportionate depreciation. Subsequently, a penalty under Section 270A was levied.

What did the Tribunal hold?

The Tribunal held that the assessee's claim for depreciation was bonafide and restricting it as per the ITAT's prior order did not constitute misreporting of income. Therefore, the penalty under Section 270A was deleted.

What were the issues?

Whether a restriction on depreciation claim, based on a prior ITAT order, amounts to misreporting of income attracting penalty under Section 270A.

Which sections of the Income-tax Act were involved?

Section 270A,Section 32(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD

Before: SHRI VIJAY PAL RAO & SHRI MADHUSUDAN SAWDIA

For Respondent: Shri Mohan Babu, Sr. AR
Pronounced: 24.06.2026

PER VIJAY PAL RAO, VICE PRESIDENT:

This appeal by the Assessee is directed against the Order dated 11.02.2026 of the learned CIT(A)-National Faceless Appeal Centre [in short "NFAC"], Delhi, arising from the penalty order passed u/sec.270A of the Income Tax Act [in short "the Act"], 1961 for the assessment year 2017-

The order continues below.

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