ACIT, Kolhapur V. TOPAZ INVESTMENTS P. LTD, Kolhapur

ITA 2290/PUN/2012

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 76141 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 2 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-01-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 20-11-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K MODI
• Keywords: Depreciation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B , PUNE BEFORE: SHRI G. S. PANNU, ACCOUNTANT MEMBER AND SHRI R.S. PADVEKAR, JUDICIAL MEMBER ITA NO. 2 290 /PN/20 12 ASSESSMENT YEAR : 200 8 - 09 ASSTT. COMMISSIONER OF INCOME TAX, (CENTRAL) CIRCLE, KOLHAPUR VS. TOPAZ INVESTMENTS PVT. LTD., PLOT NO. 438, A/P CHIPARI, JAYSINGPUR, DISTT. - KOLHAPUR (APPELLANT) (RESPONDENT) PAN NO. AAACT6999C APPELLANT BY: SHRI A.K. MODI RESPONDENT BY: SHRI BHARAT SHAH DATE OF HEARING : 1 2 - 12 - 2013 DATE OF PRONOUNCEMENT : 29 - 01 - 2014 ORDER P ER R.S. PADVEKAR , JM : - THIS APPEAL OF THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LD. CIT(A), KOLHAPUR DATED 21 - 09 - 2012 FOR THE A.Y. 200 8 - 09. THE REVENUE HAS TAKEN THE FOLLOWING GROUND IN THE APPEAL: ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) ERRED IN ALLOWING EXCESS DEPRECIATION OF RS.1,27,37,261/ - ON CIVIL WORK FOUNDATION OF WINDMILL . 2. WE HAVE DISPOSED TH E BATCH OF APPEALS IN THE CASE OF PRESENT ASSESSE E - RESPONDENT FOR THE A.YS. 2003 - 04 TO 2007 - 08 AND 2009 - 10 BEING ITA NOS. 2285 TO 2289 AND 2291/PN/2012, CO NOS. 94 TO 99/PN/2013 AND ITA NO. 2299/PN/2012 (A.Y. 2008 - 09) . THE ISSUE ARISING IN THIS APPEAL IS IN RESPECT OF DEPRECIATION ON WINDMILL IS A CONSE QUENTIAL ISSUE AND NO SEPARATE FINDING IS REQUIRED TO BE GIVEN AS THE ISSUE HAS ALREADY ADJUDICATED IN THE PRECEDING YEARS. WE, THEREFORE, 2 ITA NO. 2 290 /PN/2012, TOPAZ INVESTMENTS PVT. LTD. , KOLHAPUR FOLLOWING THE REASONS AND FINDINGS OF THE TRIBUNAL IN REVENUES APPEAL BEING ITA NOS. 2285 TO 2289 AND 2291/PN/2012, CO NOS. 94 TO 99/PN/2013 FOR THE A.YS. 2003 - 04 TO 2007 - 08 AND 2009 - 10 AND ITA NO. 2299/PN/2012 FOR THE A.Y. 2008 - 09 , DISMISS THE GROUND TAKEN BY THE REVENUE. 3. IN RESULT, THE REVENUES APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 29 - 01 - 2 01 4 SD/ - SD/ - ( G.S. PANNU ) ( R.S. PADVEKAR ) ACCOUNTANT MEMBER JUDICIAL MEMBER RK /PS PUNE , DATED : 29 TH JANUARY, 2014 COPY TO 1 ASSESSEE 2 DEPARTMENT 3 THE CIT(A) , KOLHAPUR 4 THE CIT, KOLHAPUR 5 TH E DR, ITAT, B BENCH, PUNE . 6 GUARD FILE. //TRUE COPY// BY ORDER PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL PUNE