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आदेश/Order
Per Sanjay Garg, Judicial Member :
The present appeal has been preferred by the assessee against the order dated 15.02.2016 of the Commissioner of Income Tax (Appeals)-2 Chandigarh [hereinafter referred to as CIT(A)] relating to 2009-10 assessment year.
The assessee has taken following grounds of appeal:
That the Ld. Commissioner of Income Tax (Appeals) has erred in law in as well as on facts in upholding the short term capital gains taking the full value of consideration at Rs. 1,3 7,83,173/- as against Rs. 1,04,00,000/- taken by the assessee company and as such the order passed is illegal, arbitrary & unjustified. 2. That the Ld. Commissioner of Income Tax (Appeals) has further erred in upholding the addition of Rs.33,83,173/- being the revenue expenditure claimed and at the same time adding the same towards the total consideration received which tantamounts to double addition and as such the addition upheld is arbitrary and unjustified. 3. That the Ld. Commissioner of Income Tax(Appeals) has further erred in law as well as on facts in upholding the addition of Rs.6,30,881/- disallowing the claim of depreciation which is arbitrary and unjustified. 4. That the order of the Ld. Commissioner of Income Tax (Appeals) is erroneous, arbitrary, opposed to law and facts of the case and is, thus, untenable.
ITA-695/CHD/2017 A.Y. 2009-10 Page 2 of 3
Ground Nos. 1 and 2 are relating to the computation of
short term capital gain. The assessee during the year sold
certain plant and machinery and claimed certain expenditure
incurred for the said purpose and after deducting Rs. 33.83
lacs, offered the income under the head ‘short term capital
gain’. However, the Assessing Officer (hereinafter referred to
as ‘AO) denied the claim of expenditure and included the same
into the income of the assessee.
Before the CIT(A), the assessee furnished details of
expenditure. The ld. Counsel has also invited our attention to
the letter dated 04.02.2016 placed at page 51 of the Paper
Book whereby the assessee had submitted that each and every
detail regarding transaction including the expenditure
incurred was furnished before the AO. However, the ld. CIT(A)
without considering the submissions of the assessee and
without examining the details, just confirmed the order of the
AO. The order of the ld. CIT(A) is non-speaking order on this
issue. Under the circumstances, we set aside the order of the
CIT(A) on this issue and restore the matter back to him with
the direction to consider the submissions of the assessee
examine the details, explanation and evidences furnished by
the assessee and to pass a speaking order in accordance with
law.
Ground No. 3
In ground No. 3, assessee has agitated the confirmation
of addition of Rs. 6,30,881/- on account of disallowance of
claim of depreciation. The AO disallowed the claim of
depreciation observing that the assessee did not carry out any
ITA-695/CHD/2017 A.Y. 2009-10 Page 3 of 3
manufacturing activity during the year. The assessee
submitted that the assessee during the year had carried out
job work and that the unit was operated upon. However, the
CIT(A) did not give any specific finding on the above
contention of the assessee. In view of this, this issue is also
restored to the file of the CIT(A) for adjudication afresh after
due consideration of the submissions and details furnished by
the assessee. No other ground raised or pressed.
In view of our findings give above, the appeal of the
assessee is treated as allowed for statistical purposes.
Order dictated and pronounced in the Open Court on completion of hearing on 19th February,2019.
Sd/- Sd/-
( अ�नपूणा� गु�ता ) (संजय गग�) ( ANNAPURNA GUPTA) (SANJAY GARG ) लेखा सद�य/ Accountant Member �याय�क सद�य/ Judicial Member ‘Poonam’ आदेश क� ��त�ल�प अ�े�षत/ Copy of the order forwarded to : अपीलाथ�/ The Appellant 1. ��यथ�/ The Respondent 2. आयकर आयु�त/ CIT 3. आयकर आयु�त (अपील)/ The CIT(A) 4. �वभागीय ��त�न�ध, आयकर अपील�य आ�धकरण, च�डीगढ़/ DR, ITAT, CHANDIGARH 5. गाड� फाईल/ Guard File 6.
आदेशानुसार/ By order सहायक पंजीकार/ Assistant Registrar