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Facts
The assessee, an LLP, filed its return declaring Nil income for AY 2018-19. The Assessing Officer (AO) disallowed depreciation and interest expenses due to discrepancies in the purchase and put-to-use dates of fixed assets, primarily those purchased on March 31, 2018.
Held
The Tribunal observed that the CIT(A)/NFAC did not properly appreciate the facts and noted contradictions in the AO's remand report. The Tribunal deemed it proper to restore the issue to the AO for thorough verification of the put-to-use date for each asset.
Key Issues
Whether the disallowance of depreciation and interest on fixed assets purchased on March 31, 2018, is justified without proper verification of the 'put to use' date.
Sections Cited
143(1), 143(2), 142(1)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, PUNE BENCH “A”, PUNE
Before: SHRI R. K. PANDA & Ms. ASTHA CHANDRA
आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपील र्थी / The Appellant; 2. प्रत्यर्थी / The Respondent 3. The concerned Pr.CIT, Pune 4. DR, ITAT, ‘A’ Bench, Pune 5. ग र्ड फ ईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Assistant Registrar आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune
S.No. Details Date Initials Designation 1 Draft dictated on 08.12.2025 Sr. PS/PS 2 Draft placed before author 09.12.2025 Sr. PS/PS Draft proposed & placed before the 3 JM/AM Second Member Draft discussed/approved by Second 4 AM/AM Member 5 Approved Draft comes to the Sr. PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr. PS/PS 7 Date of uploading of Order Sr. PS/PS 8 File sent to Bench Clerk Sr. PS/PS Date on which the file goes to the Head 9 Clerk 10 Date on which file goes to the A.R. 11 Date of Dispatch of order