The ACIT, 3(1), Bhopal V. M/s. RVR TECHNOLOGIES LTD., Raisen

ITA 479/IND/2014

• Counselvise Citation: 47922714 RSA 2014
• Duration Of Justice: 1 year(s) 4 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-11-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 30-06-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: R A VERMA
• Keywords: Depreciation

Judgement Text

M/S RVR TECHNOLGIC LTD. IT NO. 479/IND/2014 1 IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI D.T. GARASIA, HONBLE JUDICIAL MEMBER AND SHRI B.C. MEENA, HONBLE ACCOUNTANT MEMBER ITA NO. 479/IND/2014 A.Y. 2007-08 ACIT 3(1) BHOPAL ::: APPELLANT VS M/S RVR TECHNOLOGIES LIMITED RAISEN ::: RESPONDENT APPELLANT BY SHRI ASHISH GOYAL RESPONDENT BY SHRI R.A. VERMA DATE OF HEARING 21.10.2015 DATE OF PRONOUNCEMENT 2.11 .2015 O R D E R PER SHRI B.C. MEENA, AM THIS APPEAL FILED BY THE ASSESSEE EMANATES FROM THE ORDER OF THE LEARNED CIT(A), BHOPAL DATED 16.4.201 4. THE ONLY ISSUE INVOLVED IN THIS APPEAL IS REGARDING ALL OWING DEPRECIATION OF RS.67,96,765/-. M/S RVR TECHNOLGIC LTD. IT NO. 479/IND/2014 2 2. AT THE OUTSET OF THE HEARING, THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT ON EXACTLY SIMILAR FACTS, TH E DISALLOWANCE OF DEPRECIATION CLAIMED BY THE ASSESSEE FOR THE ASSESSMENT YEARS 2005-06 AND 2006-07 HAS BEEN ALLOWED BY THE HON'BLE ITAT, VIDE ITS ORDER DATED 1212.2011 WHILE DECIDING ITA NOS. 7 & 8/IND/2011 FO R THESE ASSESSMENT YEARS. THEREFORE, THIS ISSUE IS COV ERED IN FAVOUR OF THE ASSESSEE. THE LEAREND DR WAS NOT ABLE TO CONTROVERT THE STATEMENT MADE BY THE LEARNED COUNSEL F OR THE ASSESSEE. 3. WE HAVE HEARD BOTH THE SIDES. WE HAVE ALSO SEEN THE ORDER OF THE LEARNED CIT(A). WE HOLD THAT THE ORDER O F THE TRIBUNAL CITED SUPRA AND FIND THAT THE ISSUE IS COVERED IN FAVOUR OF THE ASSESSEE. THE FACTS REMAINING THE SAME, RESPECTFULLY FOLLOWING THE SAME, WE DISMISS THIS APPE AL OF THE REVENUE. M/S RVR TECHNOLGIC LTD. IT NO. 479/IND/2014 3 4. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. PRONOUNCED IN OPEN COURT ON 2 ND NOVEMBER, 2015 SD/- SD/- (D.T. GARASIA) (B.C. MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER 2 ND NOVEMBER, 2015 DN/-