DCIT, CIRCLE-1(1), SAMBALPUR vs. SANJAY KUMAR NANDA, SUNDERGARH

ITA 62/CTK/2016Status: DisposedITAT Cuttack24 October 2017AY 2011-125 pages

AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found merit in the revenue's submission that the matter needed verification. Therefore, the Tribunal remitted the issue back to the AO to verify if higher depreciation was allowed in earlier years and to pass an order on merits.

What were the facts?

The assessee, a transport contractor, claimed depreciation at 30% on vehicles, while the AO allowed only 15%. The CIT(A) allowed the higher depreciation based on CBDT circular and judicial precedents. The revenue appealed this deletion.

What were the issues?

Whether the assessee is eligible for higher depreciation on vehicles used in the transportation of goods on hire, and whether this was allowed in prior years.

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, CUTTACK BENCH CUTTACK

Before: SHRI N.S.SAINI, AM & SHRI PAVAN KUMAR GADALE, JM

Hearing: 23/10/2017Pronounced: 24/10/2017

आदेश की प्रधतधलधप अग्रेधषत/Copy of the Order forwarded to : 1. अपीलाथी / The Appellant- प्रत्यथी / The Respondent- 2. आयकर आयुक्त(अपील) / The CIT(A), 3. आयकर आयुक्त / CIT 4. निभागीय प्रनतनिनर्, आयकर अपीलीय अनर्करण, कटक / DR, ITAT, Cuttack 5. 6. गाडा फाईल / Guard file. सत्याधपत प्रधत //True Copy//

आदेशानुसार/ BY ORDER,

(Senior Private Secretary) आयकर अपीलीय अधधकरण, कटक / ITAT, Cuttack

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