M/s. S.R.L. Ltd., New Delhi V. DCIT, New Delhi

CO 304/DEL/2014

• Counselvise Citation: [2017] 123 COUNSELVISE.COM (IT) 2793 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 3 month(s) 8 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 14-02-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 14-02-2017
• Assessment Year: 2006-2007
• Appeal Filed On: 05-11-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S S RANA
• Keywords: Depreciation; Unabsorbed depreciation
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH G , NEW DELHI BEFORE SH. N. K. SAINI, A M AND SMT. BEENA PILLAI , JM CO NO. 304 /DEL/2014 (IN ITA NO. 918 /DEL/2014 : ASSTT. YEAR : 2006 - 07 ) S. R. L. LTD., PLOT NO . D3, A WINGH, 2 ND FLOOR, DISTRICT CENTRE, SAKET, NEW DELHI - 110017 VS DCIT, CIRCLE - 9 (1), NEW DELHI (APPELLANT) (RESPONDENT) PAN NO. A A ACS2809J ASSESSEE BY : SH. GAURAV JAIN, ADV. REVENUE BY : SH. S. S. RANA, SR. DR DATE OF HEAR ING : 14 .0 2 .201 7 DATE OF PRONOUNCEMENT : 14 .02 .201 7 ORDER PER N. K. SAINI, AM: TH E CROSS OBJECTION FILED BY THE ASSESSEE IS ARISING OUT OF ITA NO. 918 /DE L /2014 FOR THE ASSESSMENT YEAR 200 6 - 07 OF THE DEPARTMENT WHICH IS DIRECTED AGAI NST THE ORDER DATED 08.11.2013 OF THE LD. CIT(A) - XI, NEW DELHI . 2 . THE ONLY GROUND RAISED IN THE CROSS OBJECTION READS AS UNDER: THAT THE CIT(A) ERRED ON FACTS AND IN LAW IN NOT HOLDING THAT THE IMPUGNED ORDER DATED 25.09.2012 PASSED UNDER SECTION 154 OF THE INCOME TAX ACT, 1961 ( THE ACT ) WAS BEYOND JURISDICTION AND BAD IN LAW, SINCE THE SAME WAS PASSED WHILE RECTIFYING AN ISSUE, I.E., ELIGIBILITY OF UNABSORBED DEPRECIATION FOR AY 1997 - 98 FOR SET OFF IN CO NO . 304/ DEL /201 4 S R L LTD. 2 IMPUGNED ASSESSMENT YEAR WAS A DEBATABLE ISSUE AND, THEREFORE, OUTSIDE THE PURVIEW OF SECTION 154 OF THE ACT. 3. DURING THE COURSE OF HEARING THE LD. COUNSEL FOR THE ASSESSEE AT THE VERY OUTSET STATED THAT HE HAS THE INSTRUCTION NOT TO PRESS THIS CROSS OBJECTION AND GAVE IN WIRING AS UNDER: NOT PRE SSED. SD/ - (GAURAV JAIN) 14.02.2017 4. THE LD. DR DID NOT OBJECT IF THE CROSS OBJECTION IS DISMISSED AS NOT PRESSED. 5 . IN VIEW OF THE ABOVE, THE CROSS OBJECTION FILED BY THE ASSESSEE IS DISMISSED AS NOT PR ESSED . 6 . IN THE RESULT, THE CROSS OBJECTION FILED BY THE ASSESSEE IS DISMISSED . (ORDER PRONOUNCED IN THE COURT ON 14 /02/2017 ) SD/ - SD/ - ( BEENA PILLAI ) (N. K. SAINI) JUDICIAL MEMBER ACCOUNTANT MEMBER DAT ED: 14 /0 2/2017 *SUBODH* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR