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Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Before: Shri Satbeer Singh Godara & Shri Amarjit Singh
O R D E R Per Bench This assessee’s appeal for A.Y. 2012-13 arises against the National Faceless Appeal Centre, Delhi [CIT(A)]’s DIN & Order No. ITBA/ NFAC/S/250/2022- 23/1048487075(1) dated 06.01.2023 in proceedings u/s. 250 of the Income Tax Act, 1961 (the Act).
Case called twice. None appears at assessee’s behest. We accordingly proceed exparte.
It emerges at the outset that both the learned lower authorities have invoked sec. 154 rectification jurisdiction so as to withdraw the assessee’s higher depreciation claim @ 3% on transport lorries, which had already been accepted in the Assessing Officer’s sec. 143(3) assessment on 29.01.2015 for the impugned assessment year P.K. Sajeev & Company 2012-13. Ms. Swarnalatha vehemently argues that the assessee is not entitled for the same under entry no.III(2)(ii), Appendix-1, of the depreciation schedule, in the Income Tax Rules.
We are afraid that such a recourse to detailed adjudication by way of roving enquiries is nowhere permissible in sec.154 rectification proceedings going by TS Balaram, ITO vs. Volkart Bros. [1971] 82 ITR 50 (SC). Their lordships' have settled the law long back that such detailed enquiries are very well beyond the purview of sec. 154 procedure which is meant only to deal with apparent mistakes on record. We accordingly accept the assessee's substantive grounds raised herein. Ordered accordingly.
This assessee's appeal is allowed in above terms.
Order pronounced in the open court on 23 October, 2024.