ACIT, New Delhi V. M/s. Container Corporation of India Ltd., New Delhi

ITA 1920/DEL/2017

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 7540 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 9 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-01-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 30-03-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AGAINST DATED PASSED
• Assessee Lawyers: PERTAINS TO ASSE; LD CIT APPEALS NEW DELHI CIT A
• Section: 143(3); 80IA; 13

Judgement Text

INCOME TAX APPELLATE TRIBUNAL DELHI BENCH B: NEW DELHI BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER ITA NO. 1920/DEL/2017 ASSTT. YEAR: 2008-09 O R D E R PER SUDHANSHU SRIVASTAVA, JM: THIS APPEAL IS PREFERRED BY THE DEPARTMENT AGAINST ORDER DATED 27.1.2017 PASSED BY THE LD. CIT (APPEALS)-2, NEW DELHI {CIT (A)} AND PERTAINS TO ASSESSMENT YEAR 2008-09. 2.0 THE BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE COMPANY HAD FILED ITS RETURN OF INCOME DECLARING AN INCOME OF RS. DEPARTMENT BY: MS. NIDHI SRIVASTAVA, CIT(DR) ASSESSEE BY : SHRI S. KRISHANAN, ADVOCATE DATE OF HEARING 17/10 /201 9 DATE OF PRONOUNCEMENT 13 / 01 /20 20 A CIT, CIRCLE-6 (2), ROOM NO. 390, C.R. BUILDING, NEW DELHI. VS. CONTAINER CORPORATION OF INDIA LTD., CONCOR BHAWAN, C-3, MATHURA ROAD, NEW DELHI 110 076 PAN AAACC1205A (APPELLANT) (RESPONDENT) ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 2 5,40,91,38,383/-. THE INCOME WAS ASSESSED U/S 143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER CALLED THE ACT) AT RS. 6,82,54,02,900/-. SUBSEQUENTLY, VIDE ORDER PASSED U/S 154/143(3) OF THE ACT, THE INCOME OF THE ASSESSEE WAS ASSESSED AT RS. 684,69,27,532/-. SUBSEQUENT TO THE ORDER PASSED U/S 154/143(3) OF THE ACT, THE CASE WAS REOPENED U/S 147/148 OF THE ACT ON THE GROUND THAT THE ASSESSEE HAD CLAIMED A DEDUCTION OF RS. 2,84,16,72,615/- U/S 80IA OF THE ACT ON RAIL SYSTEM (ROLLING STOCK) WHICH WAS INADMISSIBLE. THE ASSESSING OFFICER (AO) WAS OF THE OPINION THAT DEDUCTION U/S 80IA ON ROLLING STOCK WAS NOT TO BE ALLOWED TO THE ASSESSEE AS THE NECESSARY TERMS AND CONDITIONS AS STIPULATED IN SECTION 80IA FOR CLAIMING OF DEDUCTION WERE NOT FULFILLED. ACCORDINGLY, THE ASSESSEES CLAIM U/S 80IA WAS DISALLOWED AND THE INCOME WAS REASSESSED AT RS. 9,66,36,00,147/- (AFTER MAKING DISALLOWANCE OF RS. 2,84,16,72,615/- ON ACCOUNT OF 80IA). 2.1 THE ASSESSEE IN APPEAL, BEFORE THE LD. FIRST APPELLATE AUTHORITY, CHALLENGED THE REOPENING AS WELL AS CHALLENGED THE ADDITION ON MERITS. THE LD. CIT (A) REJECTED THE ASSESSEES CHALLENGE TO THE REOPENING AND HELD THAT THE REOPENING WAS IN ORDER. HOWEVER, ON MERITS THE LD. CIT (A), FOLLOWING THE ORDER OF ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 3 THE TRIBUNAL (ITAT) IN ASSESSEES OWN CASE FOR ASSESSMENT YEARS 2003-04, 2004-05 AND 2005-06, DELETED THE ADDITION. 2.2 AGGRIEVED, THE DEPARTMENT IS NOW BEFORE THE ITAT AND HAS CHALLENGED THE ACTION OF THE LD. CIT (A) IN DELETING THE DISALLOWANCE OF DEDUCTION U/S 80IA ON ROLLING STOCK. 3.0 AT THE OUTSET, THE LD. AUTHORISED REPRESENTATIVE (AR) SUBMITTED THAT THE ISSUE IS COVERED IN FAVOUR OF THE ASSESSEE- RESPONDENT VIDE ORDER OF THE ITAT DELHI BENCH IN ASSESSMENT YEARS 2003-04 TO 2005-06 AND THAT THE SAME IS ALSO REPORTED IN 110 TTJ 728 (DELHI). IT WAS FURTHER BROUGHT TO THE NOTICE OF THE BENCH THAT THE HONBLE DELHI HIGH COURT HAD UPHELD THE ORDER OF THE TRIBUNAL FOR THE VARIOUS ASSESSMENT YEARS. IT WAS ALSO URGED BY THE LD. AR THAT THE DEPARTMENTS SLP AGAINST THE UPHOLDING THE TRIBUNAL ORDERS BY THE HONBLE DELHI HIGH COURT WAS DISMISSED. 4.0 THE LD. CIT (DR) FAIRLY ACCEPTED THAT THE ISSUE STOOD COVERED AGAINST THE REVENUE. 5.0 WE HAVE HEARD THE RIVAL SUBMISSIONS AND HAVE ALSO PERUSED THE MATERIAL ON RECORD. IT IS UNDISPUTED THAT THIS ISSUE HAS ALREADY BEEN DECIDED IN FAVOUR OF THE ASSESSEE BY ITAT DELHI ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 4 BENCH IN ASSESSMENT YEARS 2003-04 TO 2005-06 IN ITA NOS. 2753, 3775 AND 4477/DEL/2007 VIDE ORDER DATED 27 TH FEBRUARY 2009. THE RELEVANT OBSERVATIONS AND FINDINGS OF THE ITAT ARE CONTAINED IN PARAGRAPHS 14 TO 20 AND 30, 31. THE SAME ARE BEING REPRODUCED HEREUNDER FOR A READY REFERENCE: 14. THE LD. COUNSEL FOR THE ASSESSEE SHRI S. SAMPATH SUBMITTED THAT THE ASSESSEE INITIALLY STARTED ITS OPERATION WITH THE FLATS/RAKES OBTAINED FROM INDIAN RAILWAYS. IN THE RAIL FLAT/RAKE HAVING LESSER CARRYING CAPACITY, IT COULD NOT LOAD HIGHER CAPACITY IN THEIR CONTAINERS TO MATCH WITH THE LOAD ABILITY OF THE RAILWAY FLAT/RAKE. SUBSEQUENTLY, IT WAS REALIZED THAT THE FLAT/RAKE SUPPLIED BY INDIAN RAILWAYS WERE NOT FULLY FIT FOR MOVEMENT OF CONTAINERS AND FURTHER IMPROVEMENT WAS POSSIBLE WITH THE AVAILABILITY OF FRESH TECHNOLOGY AND NEW EXPERTISE. IN SUCH A SCENARIO IT FELT THE NEED OF NEW WAGONS, WHICH HAVE A HIGHER LOADING CAPACITY AND HIGHER COULD MOVE AT SPEEDS. ACCORDINGLY IT ACQUIRED ITS NEW FLEET OF WAGONS AS PER THE SPECIFICATION APPROVED BY INDIAN RAILWAYS AND AFTER THE APPROVAL OF RDSO. THE NEW FLEET OF WAGONS WERE INDUCTED INTO THE RAIL SYSTEM AND THE WAGONS WHICH WERE PREVIOUSLY USED WERE DEPLOYED BY INDIAN RAILWAYS FOR OTHER CATEGORY OF CARGOS. THE NEW FLEET OF WAGONS WERE INDUCTED INTO THE SYSTEM ARE PART AND PARCEL OF THE RAIL SYSTEM THROUGH WHICH IT IS PROVIDING SERVICES TO ITS CUSTOMERS. VARIOUS ACTIVITIES ARE EXPLAINED AS: ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 5 (I) DEVELOPMENT OF RAIL SYSTEM - THIS ACTIVITY INVOLVES DECISION ABOUT THE DESIGN, TECHNICAL SPECIFICATIONS, SPEED, CARRYING CAPACITY OF THE WAGONS, STUDY OF ITS COMPATIBILITY WITH THE RAILWAY EXISTING RAILWAY SYSTEM/NETWORK, SPECIFIC REQUIREMENTS OF INDIAN RAILWAYS FOR MOVEMENT OF WAGONS, ETC. ALL THESE ACTIVITIES ARE CARRIED OUT BY CONCOR IN HOUSE FOR WHICH IT HAS RETAINED AND DEVELOPED THE REQUIRED EXPERTISE AND KNOWLEDGE. AFTER THESE PARAMETERS HAVE BEEN 'SET UP, VARIOUS ACTIVITIES START I.E., THE ACTIVITY OF DEVELOPMENT OF PROTOTYPES, FINALIZING THE FINAL PRODUCT SPECIFICATIONS, FLOATING TENDERS FOR ACQUIRING WAGONS, ARRANGING MANUFACTURING OF . THOSE WAGONS AS PER OUR SPECIFICATIONS, ACQUISITION OF THOSE WAGONS, UTILIZATION OF THE WAGONS ACQUIRED FOR BUSINESS. FURTHER, TO FACILITATE MOVEMENT OF CONTAINERS CONCOR HAS TO SET UP VARIOUS OTHER FACILITIES WHICH INCLUDE RAILWAY LINES IN DEPOTS, SIGNALLING FACILITIES, ELECTRIFICATION, TRAIN MONITORING SYSTEMS, LOADING AND UNLOADING FACILITIES TO CONNECT ITS CONTAINER TRAINS WITH THE MAIN LINE OF THE RAILWAYS. THEREFORE ALL THIS INFRASTRUCTURE IS DEVELOPED BY CONCOR ON ITS OWN. (II) OPERATING OF RAIL SYSTEM - THE RAILS SYSTEM WHICH HAVE BEEN CREATED ARE OPERATED BY THE COMPANY IN WHICH IT TRANSPORTS CONTAINERS FROM SEA ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 6 PORTS/OTHER PLACES TO ITS DEPOTS IN THE HINTERLAND AND VICE VERSA. THESE OPERATIONS ARE CARRIED OUT BY CONCOR ON ITS OWN FOR WHICH IT BILLS ITS CUSTOMERS AND COLLECTS FREIGHT AND OTHER CHARGES. IN THIS PROCESS FOR UTILIZATION OF THE RAILWAY TRACK AND THE RAILWAY LOCOMOTIVES IT PAYS IF THE CHARGES DUE TO THEM. THE COMPANY HAS SET UP IN-HOUSE DIRECTIONAL AND MONITORING OPERATIONS DEPARTMENTS WHICH MONITOR THE MOVEMENT OF THE SEVERAL CONTAINER TRAINS. THESE OPERATIONS ARE CARRIED OUT IN CLOSE CO- ORDINATION AND TIE-UP WITH THE RAILWAYS AND ARE ATTEMPTED TO BE WELL INTEGRATED AND SYNERGIES WITH THEIR EXISTING NETWORK AND OPERATIONS. THE COMPANY HAS DEVELOPED SYSTEMS FOR CARRYING OUT ALL THESE ACTIVITIES OPTIONALLY BOTH FUNCTIONALLY AND TIME-WISE. (III) MAINTAINING OF RAIL SYSTEM - THE HUGE INFRASTRUCTURE WHICH HAS BEEN DEVELOPED AND OPERATED BY CONCOR IS REQUIRED TO BE ASSIDUOUSLY MAINTAINED FOR ITS SMOOTH FUNCTIONING OVER A LONGER PERIOD. THE WAGONS ACQUIRED BY CONCOR ARE ALWAYS TO BE IN LINE WITH THE SPECIFICATIONS OF INDIAN RAILWAYS. THE RAILWAYS HAVE SET UP A LARGE NETWORK FOR THE UP-KEEP AND ROUTINE MAINTENANCE OF ALL KINDS OF WAGONS. SINCE THESE WAGONS OF CONCOR ARE ALSO PLACED ON THE ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 7 EXISTING RAILWAY SYSTEM AND ARE A PART AND PARCEL THEREOF, THE COMPANY ARRANGES FOR THEIR UPKEEP AND MAINTENANCE BY THE INDIAN RAILWAYS FOR WHICH CHARGES ARE NORMALLY PAID TO THEM.' 15. HE SUBMITTED THAT AS THE WAGONS OWNED BY THE ASSESSEE ARE PART OF INDIAN RAILWAY SYSTEM FOR CARRIAGE OF CONTAINER TRAFFIC AND ARE OPERATED AND MAINTAINED BY IT, THEY CONSTITUTE ROLLING STOCK IN TERMS OF DEFINITION(S) GIVEN IN PARAS 31 AND 37 OF THE INDIAN RAILWAY ACT, 1989. THEY ARE THUS WHOLLY COVERED UNDER THE DEFINITION OF 'RAIL SYSTEM'. THE INCOME-TAX ACT DOES NOT GIVE ANY DEFINITION OF RAIL SYSTEM. IN SUCH CIRCUMSTANCES THE DEFINITION HAS TO BE LOOKED FOR IN THE INDIAN RAILWAYS ACT, 1989 WHICH IS A SISTER STATUTE IN THIS REGARD. AS PER PARA 31 OF CHAPTER I OF THE SAID ACT, THE MEANING OF RAILWAYS INCLUDES ROLLING STOCK. THE DEFINITION CONTAINED IN THE INDIAN RAILWAYS ACT CANNOT BE IGNORED, ESPECIALLY SINCE INDIAN RAILWAYS IS THE AUTHORITY IN THIS MATTER BOTH FUNCTIONALLY AND HOLDING-WISE. 16. HE DREW OUR ATTENTION TO THE INDIAN RAILWAYS ACT, 1989, DEFINING 'RAILWAYS' AND 'ROLLING STOCK' HAVE BEEN DEFINED AS UNDER:- ''RAILWAY' MEANS A RAILWAY, OR ANY PORTION OF A RAILWAY, FOR THE PUBLIC CARRIAGE OF PASSENGERS OR GOODS, AND INCLUDES ROLLING STOCK BESIDES OTHER ITEMS. 'ROLLING STOCK' IN TURN HAS BEEN DEFINED TO INCLUDE LOCOMOTIVES, LENDERS, CARRIAGES, WAGONS, RAIL CARS, CONTAINERS, TRUCKS, TROLLEYS ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 8 AND VEHICLES OF ALL KINDS MOVING ON RAILS.' [EMPHASIS SUPPLIED] 17. RAIL SYSTEM HE SUBMITTED CANNOT FUNCTION WITHOUT ROLLING STOCK, AS IT IS THE ESSENCE OF A RAIL SYSTEM. THERE CANNOT BE ANY CONNECTIVITY IN ANY RAIL SYSTEM WITHOUT ROLLING STOCK. A MERE RAIL TRACK CANNOT CONSTITUTE INFRASTRUCTURE UNLESS ROLLING STOCK IS PUT TO RUN ON IT. THE CAPACITY OF A RAIL SYSTEM IS NOT MEASURED BY THE LENGTH OF THE TRACK BUT BY THE NUMBER OF ROLLING STOCKS RUNNING ON THE RAIL SYSTEM. THE RAIL SYSTEM'S CAPACITY TO PROVIDE INFRASTRUCTURE SERVICES REMAINS ZERO IF THERE IS NO ROLLING STOCK RUNNING ON THE RAILWAY TRACK, EVEN IF THE RAILWAY TRACK EXTENDS TO THOUSANDS OF KILOMETRES. THIS IS THE REASON WHY UNDER INDIAN RAILWAYS ACT, 1989 ROLLING STOCK IS MENTIONED AS PART OF RAILWAY, ALONG WITH THE TRACK. 18. HE ALSO SUBMITTED THAT THESE WAGONS CONSTITUTE RAIL SYSTEM WHERE SERVICES OVER THE INDIAN RAILWAYS NETWORK ARE OFFERED BY USE OF THESE WAGONS TO THE CUSTOMERS. IN OTHER WORDS, THE INFRASTRUCTURE FACILITY PROVIDED BY THE INDIAN RAILWAY SYSTEM IS ENHANCED BY ASSESSEE'S WAGON DEPLOYMENT. THESE WAGONS PLY AS SCHEDULED TRAINS AND ON DEMAND TRAINS ALL OVER THE INDIAN RAILWAY NETWORK. 19. AS PER PARA 2 OF CIRCULAR NO. 733 ISSUED BY CBDT DATED 3RD JANUARY, 1996, HE SUBMITTED THAT THE INDIAN RAILWAYS HAVE FORMULATED A BUILD-OWN-LEASE-TRANSFER (BOLT) SCHEME, HEREUNDER A PRIVATE ENTERPRISE WILL PROVIDE THE NECESSARY AND CRUCIAL COMPONENTS OF RAILWAY SYSTEM. FROM THIS PARA IT IS ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 9 CLEAR THAT THE CIRCULAR IS APPLICABLE TO BOLT SCHEMES OF INDIAN RAILWAY AND IS APPLICABLE FOR EACH NECESSARY AND CRUCIAL COMPONENT OF RAILWAY SYSTEM. IT IS BEYOND DENIAL THAT WAGONS CONSTITUTE RAILWAY SYSTEM. THIS CIRCULAR CLEARLY ESTABLISHES THE FACT THAT THE RAIL SYSTEM INCLUDES ROLLING STOCK AND THAT IS WHY THE CIRCULAR HAS SPECIFICALLY PROVIDED FOR THE RELAXATION IN THE CONDITIONS AS TO MAINTAIN AND OPERATE UNDER 'BOLT SCHEME' SHALL BE RESTRICTED TO RAIL SYSTEM OTHER THAN ROLLING STOCKS FOR CLAIMING DEDUCTION UNDER SECTION 80-IA OF THE ACT. HAD THE MEANING OF THE WORDS RAIL SYSTEM' BEEN TO NOT TO INCLUDE 'ROLLING STOCK', THERE WAS NO NEED TO SPECIFICALLY EXCLUDE THE SAME IN THE CIRCULAR. NEEDLESS TO SAY THAT WITHOUT ROLLING STOCK A RAIL SYSTEM CANNOT BE AN INFRASTRUCTURE FACILITY AND CANNOT EVEN FUNCTION. HOWEVER, THIS CIRCULAR IS NOT RELEVANT SINCE AFTER THE AMENDMENT OF ACT IN 2001 SUCH A POSITION HAS BECOME OTIOSE. 20. HE FURTHER SUBMITTED THAT THE ASSESSEE HAS BUILT, OPERATED AND MAINTAINED THE INFRASTRUCTURE FACILITIES. IT IS NOT REQUIRED TO TRANSFER THE SAME. A CLARIFICATION HAS BEEN ISSUED BY RAILWAY MINISTRY (MOR), VIDE ITS LETTER NO. CON/OPERATION/MISC./1, DATED 23-8-2005 WHICH IS THE ADMINISTRATIVE MINISTRY TO THE ASSESSEE CERTIFYING THAT THE ASSESSEE OWNED WAGONS BLC, BLL AND BFKN ARE RUNNING ON INDIAN RAILWAY SYSTEM FOR CARRIAGE OF CONTAINER TRAFFIC. ANOTHER LETTER (NO. 180 TRS/O/8/BLC PT.-IV/(V)-II DATED 11- 12-2006 ISSUED BY NORTHERN RAILWAY FURTHER SUBSTANTIATES THE FACT BLC, BLL AND BFKHN WAGONS OWNED BY THE ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 10 ASSESSEE ARE RUNNING AS PART OF INDIAN RAILWAY SYSTEM AND ARE BEING MAINTAINED BY INDIAN RAILWAYS. THE ASSESSEE IS ENGAGED IN THE BUSINESS OF TRANSPORTATION OF CONTAINERS FROM INLAND PORTS (LCDS) SPREAD ALL OVER THE COUNTRY TO OTHER TERMINALS AND PORTS. TRANSPORTATION OF CONTAINERS IS DONE THROUGH WAGON ON THE INDIAN RAIL SYSTEM. THESE WAGONS ARE ACQUIRED, MANUFACTURED AND RUN AS PER THE SPECIFICATIONS/SYSTEM PROVIDED BY THE INDIAN RAILWAYS AND OWNED BY CONCOR. THESE WAGONS OPERATE AS PART OF THE NETWORK INDIAN RAILWAY SYSTEM IN ACCORDANCE WITH THE UNDERSTANDING AND AGREEMENT WITH INDIAN RAILWAYS. HENCE, THE WAGONS OWNED BY THE ASSESSEE ARE OPERATED AND MAINTAINED AS PART OF RAIL SYSTEM, WHICH IS MANAGED BY INDIAN RAILWAYS. XXXXXXXX 30. THE TERM 'RAIL SYSTEM' FOR DEDUCTION UNDER SECTION 80-IA HAS NOT BEEN DEFINED UNDER THE INCOME-TAX ACT BUT AS DECLARED IN LETTER DATED 23-8-2005, ISSUED BY GOVERNMENT OF INDIA, MINISTRY OF RAILWAYS, (RAIL BOARD), THE ASSESSEE CONTAINER CORPORATION OF INDIA LIMITED (CONCOR) IS RUNNING ON, FOR CARRIAGE OF CONTAINERS CARRIAGE TRAFFIC. IT READS AS UNDER: 'IN REFERENCE TO YOUR LETTER NO CON. /OPERATION / MISC/1, DATED 23-8-2005, THIS IS TO CERTIFY THAT THE CONCOR OWNED WAGONS 'VLC, VLL & BFKN, ARE RUNNING ON ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 11 INDIAN RAILWAYS SYSTEM FOR CARRIAGE OF CONTAINER TRAFFIC.' FURTHER IN THE RAILWAYS ACT, 1989, PARA 37, THE TERM 'ROLLING STOCK', HAS BEEN DEFINED WHICH IS BEING REPRODUCED BELOW:-(37) 'ROLLING STOCK' INCLUDES LOCOMOTIVES, LENDERS, CARRIAGES, WAGONS, RAIL-CARS, CONTAINERS, TRUCKS, TROLLEYS AND VEHICLES OF ALL KINDS OF MOVING ON RAILS.' 31. THE ROLLING STOCK OF THE ASSESSEE IS, THEREFORE, A PART AND PARCEL OF RAIL SYSTEM. ACCORDINGLY WE UPHOLD THE DIRECTION OF CIT (A) TO ALLOW THE DEDUCTION UNDER SECTION 80-IA AGAINST THE INCOME DERIVED FROM ROLLING STOCK. 5.1 IT IS ALSO UNDISPUTED THAT THIS ORDER OF THE TRIBUNAL HAS BEEN UPHELD BY THE HONBLE DELHI HIGH COURT AND THE DEPARTMENTS SLP AGAINST THE ORDER OF THE HIGH COURT HAS BEEN DISMISSED BY THE HONBLE APEX COURT. THUS, THIS ORDER OF THE TRIBUNAL HAS ATTAINED FINALITY. ACCORDINGLY, RESPECTFULLY FOLLOWING THE JUDICIAL PRECEDENTS IN ASSESSEES OWN CASE AS AFOREMENTIONED, WE DELETE THE DISALLOWANCE OF DEDUCTION OF RS. 2,84,16,72,615/- ON ROLLING STOCK. ITA NO.1920/DEL/2017 ACIT VS CONTAINER CORPORATION OF INDIA LTD. 12 6.0 IN THE FINAL RESULT THE APPEAL OF THE DEPARTMENT STANDS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 13 TH JANUARY, 2020. SD/- SD/- (O.P. KANT) (SUDHANSHU SRIVASTAVA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 13/ 01/2020 VEENA COPY FORWARDED TO 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI