Dy. CIT, Pune V. Inox Air Products Ltd, Pune

ITA 2230/PUN/2012

• Counselvise Citation: 223024514 RSA 2012
• Duration Of Justice: 10 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-09-2013
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 08-11-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K SINGH
• Keywords: Depreciation
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES A, PUNE BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI R.S. PADVEKAR, JUDICIAL MEMBER ITA NO.2230/PN/2012 (ASSESSMENT YEAR : 2009-10) DY. COMMISSIONER OF INCOME TAX, CIRCLE 1 (2), PUNE . APPELLANT VS. INOX AIR PRODUCTS LTD. OFFICE NO. 4, 1 ST FLOOR, SOLITAIRE, PUNE NAGAR ROAD, NEAR AGA KHAN PALACE, PUNE 411 006 PAN : AAACI5569D . RESPONDENT DEPARTMENT BY : MR. S. K. SINGH ASSESSEE BY : MR. C. H. NANIWADEKAR DATE OF HEARING : 20-09-2013 DATE OF PRONOUNCEMENT : 23-09-2013 ORDER PER G. S. PANNU, AM THE CAPTIONED APPEAL HAS BEEN PREFERRED BY THE REV ENUE WHICH IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF I NCOME TAX (APPEALS)-I, PUNE DATED 17.05.2012 WHICH, IN TURN, HAS ARISEN FR OM AN ORDER DATED 27.12.2011 PASSED BY THE ASSESSING OFFICER, UNDER S ECTION 143(3) OF THE INCOME-TAX ACT, 1961 (IN SHORT THE ACT), PERTAINI NG TO THE ASSESSMENT YEAR 2009-10. 2. IN THIS APPEAL, THE SOLITARY DISPUTE RELATES TO ASSESSEES CLAIM FOR DEPRECIATION @ 60% ON STORAGE TANKS, COLD CONVERTER , TRANSPORT TANKS, ETC.. THE RESPONDENT-ASSESSEE IS ENGAGED IN THE BUSINESS OF MANUFACTURING AND SALE OF INDUSTRIAL GASES SUCH AS OXYGEN, NITROGEN, LIQUID GASES, ETC. 3. THE DISPUTE IN THE PRESENT APPEAL PERTAINS TO TH E RATE OF DEPRECIATION CLAIMED BY THE ASSESSEE. THE ASSESSING OFFICER HAS ALLOWED DEPRECIATION @ 15% ON STORAGE TANKS, COLD CONVERTERS, TRANSPORT TA NKS, ETC. INSTEAD OF 60% CLAIMED BY THE ASSESSEE. THE CIT(A) HAS ALLOWED THE CLAIM OF THE ITA NO.2230/PN/2012 A.Y. 2009-10 ASSESSEE, FOLLOWING THE PRECEDENT IN THE ASSESSEES OWN CASE FOR EARLIER ASSESSMENT YEARS WHEREIN THE ASSESSEES PLEA FOR TH E DEPRECIATION @ 60% HAS BEEN UPHELD. 4. BEFORE US, IT WAS A COMMON POINT BETWEEN THE PAR TIES THAT ASSESSEES CLAIM FOR DEPRECATION AT THE HIGHER RATE WAS ALLOWE D BY THE TRIBUNAL IN THE ASSESSMENT YEAR 2000-2001, AS NOTED BY THE CIT(A) A ND THAT SUCH DECISION CONTINUES TO HOLD THE FIELD. THE LEARNED COUNSEL FO R THE RESPONDENT-ASSESSEE ALSO SUBMITTED THAT SIMILAR DISPUTE IN THE ASSESSEE S OWN CASE TRAVELLED TO THE HONBLE BOMBAY HIGH COURT FOR ASSESSMENT YEAR 2005- 06 WHEREIN BY WAY OF INCOME TAX APPEAL (LOD) NO. 1014 OF 2011 DATED 09.0 1.2012 THE STAND OF THE ASSESSEE HAS BEEN AFFIRMED. 5. FOLLOWING THE AFORESAID PRECEDENTS, WE FIND NO E RROR ON THE PART OF THE CIT(A) IN ALLOWING THE ASSESSEES CLAIM FOR DEPRECI ATION @ 60% INSTEAD OF 15% ON STORAGE TANKS, COLD CONVERTERS, TRANSPORT TA NKS, ETC.. THEREFORE, THE ORDER OF THE CIT(A) IS HEREBY AFFIRMED. 6. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD SEPTEMBER, 2013. SD/- SD/- (R.S. PADVEKAR) (G.S. PANNU) JUDICIAL MEMBER ACCOUNTANT MEMBER PUNE, DATED: 23 RD SEPTEMBER, 2013 SUJEET COPY OF THE ORDER IS FORWARDED TO : - 1) THE ASSESSEE; 2) THE DEPARTMENT; 3) THE CIT(A)-I, PUNE; 4) THE CIT-I, PUNE; 5) THE DR, A BENCH, I.T.A.T., PUNE; 6) GUARD FILE. BY ORDER //TRUE COPY// SR. PRIVATE SECRETARY I.T.A.T., PUNE