M/s Ardee Foundation, New Delhi V. DDIT (E), New Delhi

ITA 3086/DEL/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 2111 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 3 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-09-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Assessment Year: 2011-2012
• Appeal Filed On: 30-05-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SSH GAUTAM JAIN PIYUSH KUMAR
• Keywords: Depreciation
• Section: 263

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL, DELHI BENCH G, NEW DELHI BEFORE : SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA NO. 3086/DEL/2016 ASSESSMENT YEAR: 2011-12 ARDEE FOUNDATION, DR. GOPAL DASS BHAWAN, 28, BARAKHAMBA ROAD, CONNAUGHT PLACE, NEW DELHI. PAN- AAATA1929P (APPELLANT) VS. DDIT(EXEMPTION), NEW DELHI. (RESPONDENT) ASSESSEE BY S/SH. GAUTAM JAIN, PIYUSH KUMAR & LALIT MOHAN, ADV. REVENUE BY SH. PRADEEP SINGH GAUTAM, SR. DR ORDER PER L.P. SAHU, A.M.: THIS APPEAL AT THE INSTANCE OF ASSESSEE ARISE OUT O F AN ORDER U/S. 263 OF THE IT ACT DATED 31.03.2016 OF LD. CIT(E), NEW DELH I FOR THE ASSESSMENT YEAR 2011-12, WHEREBY THE MATTER RELATING TO ALLOWANCE O F DEPRECIATION ON THE ASSETS WAS SET ASIDE BY THE LD. CIT(E) TO THE FILE OF AO TO MAKE PROPER ENQUIRIES WHETHER THE COST OF SUCH ASSETS HAVE BEEN ALLOWED AS APPLICATION OF INCOME IN THE PAST OR NOT AND THEN TO DECIDE THE IS SUE AFRESH. 2. IN PURSUANCE TO THIS REVISION ORDER U/S. 263, TH E AO DISALLOWED THE IMPUGNED DEPRECIATION OF RS.40,62,845/- TO THE ASSE SSEE VIDE ORDER DATED 30.06.2016 U/S. 143(3)/263 OF THE ACT. IN APPEAL AG AINST THIS ORDER, THE LD. DATE OF HEARING 28.08.2018 DATE OF PRONOUNCEMENT 04 .09.2018 ITA NO. 3086/DEL/2016 2 CIT(A) VIDE ORDER DATED 27.03.2018 ALLOWED THE DEPR ECIATION AS APPLICATION OF INCOME IN VIEW OF THE DECISION OF HONBLE SUPREME C OURT IN THE CASE OF CIT VS. RAJASHTHAN & GUJRAT CHARITABLE FOUNDATION, PUNE, 40 2 ITR 441(SC). 3. HAVING CONSIDERED THE SUBMISSIONS OF BOTH THE SI DES AND GOING THROUGH THE MATERIAL ON RECORD AND ALSO KEEPING IN VIEW THE AFORESAID FACTS, IN OUR CONSIDERED OPINION, ONCE THE ISSUE UNDER CONSIDERAT ION STANDS DECIDED BY THE LD. CIT(A) IN FAVOUR OF THE ASSESSEE, THERE REMAINS NOTHING TO BE DECIDED IN THE PRESENT APPEAL AT THIS STAGE. MOREOVER, SINCE THE I SSUE HAS BEEN DECIDED BY HONBLE SUPREME COURT IN THE CASE OF CIT VS. RAJASH THAN & GUJRAT CHARITABLE FOUNDATION (SUPRA) IN FAVOUR OF THE ASSESSEE, THE O RDER U/S. 263 WOULD NOT SURVIVE AT ALL. 4. WE, ACCORDINGLY, SET ASIDE THE ORDER U/S. 263 AN D ALLOW THE APPEAL OF THE ASSESSEE. 5. IN THE RESULT, THE APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 4 TH SEPTEMBER, 2018. SD/- SD/- (BHAVNESH SAINI) (L.P. SAHU) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 4 TH SEPTEMBER, 2018 *AKS* COPY OF ORDER FORWARDED TO: (1) THE APPELLANT (2) THE RESPONDENT (3) COMMISSIONER (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL