WORKING WOMEN'S FORUM INDIA,CHENNAI vs. DCIT, CHENNAI

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ITA 1310/CHNY/2017Status: DisposedITAT Chennai16 January 2018AY 2010-113 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal followed the Supreme Court's decision in Rajasthan Gujarati Charitable Foundation, Poona, which held that depreciation is allowable even for entities claiming exemption under Section 11. Therefore, the assessee is entitled to claim depreciation.

What were the facts?

The assessee, an entity entitled to exemption under Section 11, was denied depreciation by the lower authorities. The assessee argued that this denial constituted a double deduction.

What were the issues?

Whether an assessee claiming exemption under Section 11 is eligible for depreciation, and if disallowing it amounts to a double deduction.

Which sections of the Income-tax Act were involved?

Section 11

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH: CHENNAI

Before: SHRI GEORGE MATHAN, & SHRI A. MOHAN ALANKAMONY

Pronounced: 16.01.2018

: अपीलाथ% क( ओर से/ Appellant by Mr.S.Sridhar, Adv. &'यथ% क( ओर से /Respondent by : Mr.N.Madhavan, ACIT : 16.01.2018 सुनवाई क( तार"ख/Date of Hearing : घोषणा क( तार"ख /Date of Pronouncement 16.01.2018 आदेश / O R D E R

PER GEORGE MATHAN, JUDICIAL MEMBER:

1.

the Order of the Commissioner of Income Tax (Appeals)-17, Chennai, in dated 29.03.2017 for the AY 2010-11.

2.

Mr. N.Madhavan, ACIT, represented on behalf of the Revenue and Mr. S.Sridhar, Adv., represented on behalf of the assessee. :- 2 -:

3.

It was submitted by the Ld.AR that the only issue in the assessee’s appeal was against the action of the Ld.CIT(A) in disallowing the depreciation in the case of the assessee who is entitled to the exemption u/s.11 of the Act holding that there was a double deduction. It was a submission that the issue is squarely covered by the decision of the Hon’ble Supreme Court in the case of Rajasthan Gujarati Charitable Foundation, Poona, in Civil Appeal No.7186 of 2014 dated 13.12.2017.

4.

In reply, the Ld.DR vehemently supported the order of the AO and the Ld.CIT(A)

5.

We have considered the rival submissions. As we have noticed that the issue in regard to the depreciation in the case of assessee entitled to the exemption u/s.11 is squarely covered by the decision of the Hon’ble Supreme Court in the case of Rajasthan Gujarati Charitable Foundation, Poona, in Civil Appeal No.7186 of 2014 dated 13.12.2017. Respectfully following the decision of the Hon’ble Supreme Court, the AO is directed to grant the assessee, the claim of depreciation.

6.

In the result, the appeal filed by the assessee is allowed.

Order pronounced in the Open Court on January 16, 2018 at Chennai. (ए. मोहन अलंकामणी) (जॉज" माथन) (A. MOHAN ALANKAMONY) (GEORGE MATHAN) "या"यक सद य/JUDICIAL MEMBER लेखा सद य/ACCOUNTANT MEMBER :- 3 -:

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