Deputy Commissioner of Income-tax, Circle - 1(1), Pune V. M/s. Cummins Generator Technologies India Pvt.Ltd, Pune

ITA 2293/PUN/2017

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 2964 (ITAT-PUNE)
• Duration Of Justice: 3 year(s) 1 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-11-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 29-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S P WALIMBE
• Keywords: Depreciation; Additional depreciation; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, PUN E (THROUGH VIRTUAL COURT) BEFORE SHRI P.M. JAGTAP, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JM . / ITA NO.2293/PUN/2017 / ASSESSMENT YEAR : 2013-14 THE DY. COMMISSIONER OF INCOME TAX, CIRCLE 1(1), PUNE. ....... / APPELLANT / V/S. M/S. CUMMINS GENERATOR TECHNOLOGIES INDIA PVT. LIMITED, TOWER A, 6 TH FLOOR, SURVEY NO.21, BALEWADI, PUNE 411 045. PAN : AABCC1533E. / RESPONDENT ASSESSEE BY : NONE. REVENUE BY : SHRI S.P. WALIMBE. / DATE OF HEARING : 24.11.2020 / DATE OF PRONOUNCEMENT : 24.11.2020 / ORDER PER P.M. JAGTAP, VP : THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE OR DER OF LD. CIT(A)-13, PUNE DATED 20.07.2017 FOR THE ASSESSMENT YEA R 2013-14 ON THE FOLLOWING GROUND: THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) G ROSSLY ERRED IN ALLOWING THE ASSESSEES GROUND OF APPEAL WITH REGAR D TO ADDITIONAL DEPRECIATION OF RS.34,07,677/-, FAILING TO APPRECIA TE THE FACT THAT THE AMENDMENTS MADE BY THE FINANCE ACT, 2015 REGARDING THE ALLOWABILITY OF DEDUCTION OF 50% ADDITIONAL DEPRECIATION IN SUBSEQU ENT ASSESSMENT YEAR IS APPLICABLE FROM 01.04.2016 I.E., A.Y. 2016-17 AN D NOT FROM A.Y. 2013- 14. 2 ITA NO.2293/PUN/2017 2. THE ASSESSEE IN THIS CASE HAS FILED A LETTER DT.20.11.20 20 POINTING OUT THAT THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LESS THAN THE MONETARY LIMIT OF RS.50,00,000/- FIXED BY THE CBDT VIDE CIRCU LAR NO. 17/2019 DATED 08.08.2019 FOR FILING THE REVENUES APPEAL BEFORE THE TRIBUNAL AND THIS POSITION CLEARLY EVIDENT FROM THE GROUND RAISED BY THE RE VENUE IN THIS APPEAL IS NOT DISPUTED BY THE LD. D.R. SINCE THE SAID CIRCULAR ISSUED B Y THE CBDT IS MADE APPLICABLE TO ALL THE PENDING APPEALS ALSO, WE TREAT TH IS APPEAL OF THE REVENUE AS NOT MAINTAINABLE ON ACCOUNT OF LOW TAX EFFECT A ND DISMISS THE SAME. 3. IN THE RESULT, THE APPEAL OF REVENUE IS DISMISSED. ORDER PRONOUNCED ON THIS 24 TH DAY OF NOVEMBER, 2020. SD/- SD/- ( PARTHA SARATHI CHAUDHURY ) ( P.M. JAGTAP ) JUDICIAL MEMBER VICE PRESIDENT / PUNE; / DATED : 24 TH NOVEMBER, 2020. YAMINI / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(A)-13, PUNE. 4. THE PR.CIT-1, PUNE. 5 . , , !'# , / DR, ITAT, A BENCH, PUNE. 6. $%&' / GUARD FILE. / BY ORDER, // TRUE COPY // // TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE.