M/S SRI VAMSI KRISHNA SHIPPING,HYDERABAD vs. THE DCIT, VISAKHAPATNAM

ITA 61/VIZ/2015Status: DisposedITAT Visakhapatnam17 August 2018AY 2010-117 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that since the appeal was decided ex-parte and the assessee could not present evidence before the lower authorities, it was in the interest of justice to allow the assessee an opportunity to present evidence. The case was remitted back to the CIT(A) for fresh adjudication.

What were the facts?

The assessee claimed higher depreciation on vehicles used in its transportation business. The Assessing Officer (AO) disallowed this, allowing only normal depreciation, as the vehicles were not run on hire. The Commissioner (Appeals) confirmed the AO's order ex-parte.

What were the issues?

Whether the assessee is eligible for higher depreciation on vehicles used in its transportation business, and if the assessee should be allowed to submit additional evidence before the appellate authority.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI V. DURGA RAO & SHRI D.S. SUNDER SINGH

For Appellant: Shri Samuel Nagadesi, AR
Hearing: 07.08.2018

PER D.S. SUNDER SINGH, Accountant Member:

This appeal is filed by the assessee against the order of the Commissioner of Income Tax (Appeals) [CIT(A)], Visakhapatnam vide I.T.A.No.854/2013-14/DC/C-3(1)/VSP/2014-15 dated 13.11.2014 for the assessment year 2010-11. 2 M/s Sri Vamsikrishna Shipping, Visakhapatnam

2.

The assessee has raised following grounds of appeal :

1.

On the facts and in the circumstances of the case,

The order continues below.

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