ITO, WARD - 15(3), KOLKATA, KOLKATA vs. M/S. INDIAN JUTE MACHINERY RESEARCH & DEVELOPMENT, KOLKATA

PDF · subscribers
ITA 1136/KOL/2017Status: DisposedITAT Kolkata31 July 2018AY 2013-142 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the issue to the CIT(A) for combined disposal with the appeal for the preceding assessment year, as the same issue involving the same assets was pending. The Tribunal noted that the issue of assets being 'put to use' was central.

What were the facts?

The Assessing Officer disallowed depreciation on assets, stating the claim was based on the previous year and the assets were not put to use. The CIT(A) deleted this disallowance, holding that the previous year's treatment was irrelevant and the AO had not questioned the asset being put to use in the current year.

What were the issues?

Whether the CIT(A) erred in deleting the depreciation disallowance, and whether the issue of assets being 'put to use' in the current year was correctly assessed.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “B” KOLKATA

Before: Shri S.S.Godara & Shri, M. Balaganesh

O R D E R

PER S.S.Godara, Judicial Member:

1.

- This Revenue’s appeal for assessment year 2013-14 arises from Commissioner of Income Tax (Appeals)-5, Kolkata’s order dated 31.03.2017 passed in case No.524/CIT(A)-5/Wd-15(3)/150-16 reversing Assessing Officer’s action disallowing assessee’s depreciation claim of ₹2,06,05,390/-, in assessment order dated 04.03.2016 involving proceedings u/s 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused.

2.

The Revenue’s sole substantive grievance pleaded in the instant appeal is that CIT(A) has erred in law as well as on facts in deleting the impugned depreciation disallowance of ₹2,06,05,390/-. Learned Addl. CIT-DR invites our attention to CIT(A)’s order deleting the impugned addition as follows:- “I have perused the assessment order and the submission of the A/R. The reason given by the AO for disallowance of depreciation is that the claim of depreciation this year has its base in the previous year relevant to AY 2012-13 being prior to the current. AY 2013-14. There is no other reason by the AO for the said disallowance

Recent GST High Court judgments

Search GST case law →