Kirloskar Ferrous Industries Ltd, Pune V. Assistant Commissioner of Income tax, Pune

ITA 1167/PUN/2017

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 4988 (ITAT-PUNE)
• Duration Of Justice: 4 year(s) 10 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-04-2022
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 10-05-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Depreciation; Additional evidence
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.1166 & 1167/PUN/2017 िनधाᭅरण वषᭅ / Assessment Years: 2011-12 & 2012-13 Kirloskar Ferrous Industries Ltd., Laxmanrao Kirloskar Road, Khadki, Pune- 411003. PAN : AAACK7297E Vs. DCIT, Circle- 9/ACIT, Circle-14, Pune. Appellant Respondent आदेश / ORDER PER INTURI RAMA RAO, AM: These are the appeals filed by the assessee directed against the different orders of ld. Commissioner of Income Tax (Appeals)- 7, Pune [‘CIT(A)’ for short] commonly dated 05.01.2017 for the assessment years 2011-12 and 2012-13 respectively. 2. Since the identical facts and issues are involved in both the appeals, therefore, we proceed to dispose of the same by this common order. Assessee by : Shri C. H. Naniwadeker Revenue by : Shri J. P. Chadraker & Shri Piyushkumar Singh Yadav Date of hearing : 14.03.2022 Date of pronouncement : 07.04.2022 ITA Nos.1166 & 1167/PUN/2017 2 3. For the sake of convenience and clarity, the facts relevant to the appeal in ITA No.1166/PUN/2017 for the assessment year 2011-12 are stated herein. ITA No.1166/PUN/2017, A.Y. 2011-12 : 4. Briefly, the facts of the case are that the appellant is a company incorporated under the provisions of the Companies Act, 1956. It is engaged in the business of manufacturing of Gray Iron Casting & Pig Iron. The return of income for the assessment year 2011-12 was filed on 28.09.2011 disclosing total income of Rs.52,47,29,279/-. Against the said return of income, the assessment was completed by the Dy. Commissioner of Income Tax, Circle-9, Pune (‘the Assessing Officer’) vide order dated 28.03.2014 passed u/s 143(3) of the Income Tax Act, 1961 (‘the Act’) at total income of Rs.73,26,54,700/-. While doing so, the Assessing Officer disallowed the depreciation and additional depreciation on TG-III [Turbo Generato (TG-3)] @ 80% under entry no.III 8(ix)(D) of the Part A of Appendix I and the same was disallowed by the Assessing Officer on the ground that no documentary evidence was furnished. ITA Nos.1166 & 1167/PUN/2017 3 5. Being aggrieved by the order of assessment, an appeal was filed before the ld. CIT(A), who vide impugned order confirmed the action of the Assessing Officer. 6. Being aggrieved by the decision of the ld. CIT(A), the appellant is in appeal before us. 7. During the course of hearing of appeal, the appellant filed an additional evidence along with application seeking permission for admission the same in an attempt to prove that the asset as claim was made is “Co-Generation System”. Since this is a purely engineering and technical matter, the additional evidence is relevant material to decide the issue in appeal. Thus, the additional evidence be admitted. 8. On the other hand, ld. CIT-DR has no serious objection for admission of the additional evidence. 9. In the circumstances, we admit the additional evidence and remand the matter to the file of the Assessing Officer for deciding the issue in the light of the additional evidence produced by the assessee. Therefore, the ground of appeal raised by the assessee stands partly allowed for statistical purposes. 10. In the result, the appeal of the assessee in ITA No.1166/PUN/2017 for the assessment year 2011-12 stands partly allowed for statistical purposes. ITA Nos.1166 & 1167/PUN/2017 4 ITA No.1167/PUN/2017, A.Y. 2012-13 : 11. Since the facts and issues involved in both the appeals are identical, therefore, our decision in ITA No.1166/PUN/2017 for A.Y. 2011-12 shall apply mutatis mutandis to the remaining appeal of assessee in ITA No.1167/PUN/2017 for A.Y. 2012-13. Accordingly, the appeal of the assessee in ITA No.1167/PUN/2017 for A.Y. 2012-13 stands partly allowed for statistical purposes. 12. Resultantly, both the above appeals of the assessee are partly allowed for statistical purposes. Order pronounced on this 07 th day of April, 2022. Sd/- Sd/- (S. S. VISWANETHRA RAVI) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; ᳰदनांक / Dated : 07 th April, 2022. Sujeet आदेश कᳱ ᮧितिलिप अᮕेिषत / Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant. 2. ᮧ᭜यथᱮ / The Respondent. 3. The CIT(A)-7, Pune. 4. The Pr. CIT-6, Pune. 5. िवभागीय ᮧितिनिध, आयकर अपीलीय अिधकरण, “B” बᱶच, पुणे / DR, ITAT, “B” Bench, Pune. 6. गाडᭅ फ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune.