The ACIT, Indore V. M/s Arihant Cheritable Trust, Indore

ITA 289/IND/2010

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 2706 (ITAT-INDORE)
• Duration Of Justice: 2 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-07-2010
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 29-07-2010
• Assessment Year: 2005-2006
• Appeal Filed On: 11-05-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K K SINGH
• Assessee Lawyers: S N AGRAWAL
• Keywords: Depreciation; Charitable institution

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH : INDORE BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER AND SHRI B.R.KAUSHIK, ACCOUNTANT MEMBER PAN NO. : - I.T.A.NO. 289/IND/2010 A.Y. : 2005-06 ACIT, M/S. ARIHANT CHARITABLE TRUST, 3(1), VS INDORE. INDORE. APPELLANT RESPONDENT APPELLANT BY : SHRI K. K. SINGH, CIT DR RESPONDENT BY : SHRI S. N. AGRAWAL, C. A. O R D E R PER B. R. KAUSHIK, A.M. THIS APPEAL HAS BEEN FILED BY THE DEPARTMENT AGAIN ST THE ORDER OF THE LD.CIT(A) DATED 9 TH FEBRUARY, 2010. 2. THE ONLY GROUND TAKEN BY THE REVENUE READS AS UND ER :- ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD.CIT(A) HAS ERRED IN DIRECTING THE AO TO ALLOW DEPRECIATION OF RS. 87,88,046/- ON THE VARIOUS BLOC K OF ASSETS ACT. - 2 - 2 3. THE FACTS OF THE CASE HAVE BEEN DISCUSSED IN PARA 2 .1 IN THE IMPUGNED ORDER OF THE LD.CIT(A) AND THE LD.CIT(A) H AS DECIDED THE ISSUE AS PER DISCUSSION AT PAGES 8 AND 9 OF HIS ORDER. 4. DURING THE COURSE OF HEARING OF THE APPEAL, THE, TH E LD. CIT DR REITERATED THAT THE ASSETS WERE PURCHASED OUT OF CO RPUS FUND OF THE TRUST AND THE DEPRECIATION WAS NOT ADMISSIBLE THEREON AS PER THE DISCUSSION IN THE ASSESSMENT ORDER. HE ALSO SUBMITTED THAT THE DE CISION OF THIS BENCH IN THE CASE OF ACIT VS. M.P. MADHYAM & OTHERS, BHOPAL, REPORTED IN 13 ITJ 103, HAS NOT BEEN ACCEPTED BY THE DEPARTMENT. THE LD.COUNSEL FOR THE ASSESSEE REITERATED THE SUBMISSIONS TAKEN BEFORE TH E LOWER AUTHORITIES AND SUPPORTED THE ORDER OF THE LD.CIT(A). 5. ON CAREFUL CONSIDERATION OF THE MATERIAL PLACED ON RECORD, ORDERS OF THE LOWER AUTHORITIES AND RIVAL SUBMISSIO NS, WE ARE OF THE CONSIDERED OPINION THAT THE LD.CIT(A) HAS GIVEN A C LEAR FINDING THAT THE ISSUE WAS FULLY COVERED BY THE DECISION OF THIS BE NCH IN THE CASE OF ACIT VS. M.P. MADHYAM & OTHERS, 13 ITJ 103. THE LD. SENI OR D.R. FAILED TO DISTINGUISH THE FACTS OF THIS CASE FROM THE FACTS O F THE CASE DECIDED BY THIS BENCH. WE, THEREFORE, RESPECTFULLY FOLLOWING THE DE CISION IN THE CASE OF ACIT VS. M.P. MADHYAM & OTHERS, BHOPAL (SUPRA), SEE NO REASON TO INTERFERE WITH THE DECISION OF THE LD.CIT(A). - 3 - 3 6. THE APPEAL OF THE DEPARTMENT IS DISMISSED. THIS ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 30TH JULY, 2010. SD/- SD/- (JOGINDER SINGH) (B. R. KAUSHIK) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 30 TH JULY, 2010. CPU* 29307