SURYA VIDYUT LIMITED,KOLKATA vs. ACIT, CIRCLE - 5(2), KOLKATA, KOLKATA

PDF · subscribers
ITA 1350/KOL/2018Status: DisposedITAT Kolkata19 February 2020AY 2013-142 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the carry forward of unabsorbed depreciation is a right of the assessee and must be mentioned in the AO's order. The issue was set aside to the AO for granting the allowance in accordance with law.

What were the facts?

The Assessing Officer (AO) passed an assessment order under Section 143(3) without explicitly mentioning the allowance of carry forward of unabsorbed depreciation. The CIT(A) did not adjudicate this issue as the assessee did not present arguments or evidence.

What were the issues?

Whether the AO's assessment order should explicitly mention the allowance of carry forward of unabsorbed depreciation. Whether the CIT(A) erred in not adjudicating the issue.

Which sections of the Income-tax Act were involved?

Section 32(2),Section 143(3),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘C’ BENCH, KOLKATA

Before: Shri J. Sudhakar Reddy & Shri S.S. Godara]

order

: February 19th, 2020 ORDER

Per J. Sudhakar Reddy, AM:

1.

This is an appeal filed by the assessee directed against the order of the Commissioner of Income Tax (Appeals)-2, Kolkata [‘CIT(A)’ for short] dated 04.06.2018 u/s 250 of the Income Tax Act, 1961 (‘the Act’ for short) for AY 2013-14.

2.

After hearing rival contentions we find that the sole issue is the non-mentioning by the AO in his assessment order passed u/s 143(3) of the Act, the fact of allowing the carry forward of unabsorbed depreciation allowance of ₹3,54,05,017/- u/s 32(2) of the Act. A perusal of the assessment order demonstrates that the claim of the assessee has not been rejected by the AO. The ld. CIT(A) has not adjudicated this issue on the ground that the assessee has not submitted any written or oral arguments or evidences. 3. Under these circumstances, as the carry forward of unabsorbed depreciation u/s 32(2) of the Act, is the right of the assessee and as this fact has to be mentioned by the ld. AO in his order, we set aside this issue to the file of the AO with the direction to grant the same to the assessee in accordance with law.

Assessment Year: 2013-14 Surya Vidyut Limited. 4. In the result, the appeal of the assessee is allowed for statistical purposes. Kolkata, the 19th February, 2020.

More judgments on Section 32(2)

All 321 judgments and leading authorities on Section 32(2) →

Recent GST High Court judgments

Search GST case law →