Saranathan Academy of Higher Education, Trichy V. DCIT Circle IV, Trichy

ITA 1974/CHNY/2018

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 1485 (ITAT-CHENNAI)
• Duration Of Justice: 5 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-11-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2010-2011
• Appeal Filed On: 19-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MRS D JAYANTHI ANGAYARKANNI
• Assessee Lawyers: N QUADIR HOSEYN; DR L NATARAJAN
• Keywords: Depreciation
• Section: 11

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, D BENCH : CHENNAI . , . , [BEFORE SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBE R AND SHRI DUVVURU RL REDDY , JUDICIAL MEMBER ] ./ I.T.A. NO.1974 & 1975/CHNY/2018 /ASSESSMENT YEARS : 2010-11 & 2011-12 SARANATHAN ACADEMY OF HIGHER EDUCATION VENKATESWARA NAGAR, PANJAPPUR, TIRUCHIRAPALLI-620 002. ( PAN: AAETS6115N ) VS. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-IV TRICHY. AND ITA NOS.1976 TO 1978/CHNY/2018 ASSESSMENT YEARS : 2010-11 TO 2012-13 MAHATMA GANDHI CENTENARY VS. ASSISTANT COMMISSI ONER VIDYALAYA, OF INCOME TAX, NO.35, TENNUR HIGH ROAD, CIRCLE-1(2), TENNUR, TRICHY. TIRUCHIRAPALLI-620 017. (PAN:AAATM7545C) / APPELLANT ( /RESPONDENT) / APPELLANT BY : SHRI N.QUADIR HO SEYN, ADVOCATE & DR.L.NATARAJAN, C.A /RESPONDENT BY : MRS. D.JAYANTHI ANGAYARKANNI, JCIT /DATE OF HEARING : 26 .11. 2018 /DATE OF PRONOUNCEMENT : 27 .11. 201 8 ITA NO. 1974 TO 1978/CHNY/2018 :- 3 -: 4. WE HAVE HEARD THE CONTENTIONS. THE QUESTION REG ARDING ALLOWANCE OF DEPRECIATION ON ASSETS, THE COST OF WHICH WAS CLAIM ED AS APPLICATION OF INCOME, IS NO MORE RES INTEGRA . NO DOUBT, BY VIRTUE OF AMENDMENT MADE UNDER SUB - SECTION (6) TO SECTION 11 INSERTED BY FINANCE ACT, 2014 WITH EFFECT FROM 01.04.2015, DEPRECIATION ON COST OF ASSETS CLAIMED AS APPLICATION OF INCOME IS NOT ALLOWABLE. HOWEVER, THE SAID AMENDMENT HAS COME INTO EFFECT FROM 01.04.2015 AND IS THEREFORE APPLICABLE ONLY FROM AS SESSMENT YEAR 2015-16. IMPUGNED ASSESSMENT YEARS ARE ALL PRIOR TO ASSESSME NT YEAR 2015-16. ACCORDINGLY, BY VIRTUE OF THE JUDGEMENT OF HONBLE SUPREME COURT IN CIT VS. RAJASTHAN & GUJARATI CHARITABLE FOUNDATION, PUNE (S UPRA), CLAIM OF THE ASSESSEES ARE ALLOWABLE. WE, THEREFORE, SET ASIDE T HE ORDERS OF THE LOWER AUTHORITIES AND DIRECT THE ASSESSING OFFICER TO ALL OW THE DEPRECIATION IN ALL THESE APPEALS. 5. IN THE RESULT, APPEALS FILED BY THE ASSESSEES ST AND ALLOWED. ORDER PRONOUNCED ON TUESDAY, THE 27 TH OF NOVEMBER, 2018, AT CHENNAI. SD/- ( . ) ( DUVVURU RL REDDY ) / JUDICIAL MEMBER SD/- ( . ) (ABRAHAM P. GEORGE) / ACCOUNTANT MEMBER / CHENNAI / DATED:- 27 TH NOVEMBER, 2018. SOMU / COPY TO: 1 . / APPELLANT 3. ( ) / CIT(A) 5. / DR 2. / RESPONDENT 4. / CIT 6. / GF