ITO (E)I(1), MUMBAI V. BOMBAY GOW RAKSHAK MANDLI, MUMBAI

ITA 5311/MUM/2012

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 88444 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 6 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-03-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 10-03-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 23-08-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIVEK BATRA
• Assessee Lawyers: I A SINGH
• Keywords: Depreciation

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL B BE NCH, MUMBAI . , ! ' ' ' ' #$ %&'( , #) *+ # ! BEFORE SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER ./I .T.A. NO. 5311/MUM/2012 ( , , , , / ASSESSMENT YEAR :2009-10 THE ITO (E) 1(1), PIRAMAL CHAMBERS, PAREL, MUMBAI-400 012 / VS. BOMBAY GOW RAKSHAK MANDLI, 1415, DALAMAL TOWERS, 211, FREE PRESS MARG, NARIMAN POINT, MUMBAI-400 021 +- #) ./ ./ ./ PAN/GIR NO. : AAATB 3280B ( -0 / APPELLANT ) .. ( 12-0 / RESPONDENT ) -0 3 # / APPELLANT BY: SHRI VIVEK BATRA 12-0 4 3 # / RESPONDENT BY: MS. I.A. SINGH 4 5) / DATE OF HEARING :10.03.2015 6, 4 5) / DATE OF PRONOUNCEMENT :10.03.2015 *#7 / O R D E R PER N.K. BILLAIYA, AM: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LD. CIT(A)-1, MUMBAI DT. 25.6.2012 PERTAINING TO ASSESS MENT YEAR 2009-10. ITA NO. 5311/M/2012 2 2. THE SUM AND SUBSTANCE OF THE GRIEVANCE OF THE RE VENUE IS THAT THE LD. CIT(A) ERRED IN DIRECTING THE AO TO ALLOW THE C LAIM OF DEPRECIATION AND FURTHER ERRED IN DIRECTING THE AO TO ALLOW CARR Y FORWARD AND SET OFF OF THE DEFICIT OF EARLIER YEARS TO THE SURPLUS OF SUBS EQUENT YEARS. 3. AT THE VERY OUTSET, THE LD. COUNSEL FOR THE ASSE SSEE STATED THAT THE ISSUES STANDS COVERED IN FAVOUR OF THE ASSESSEE AND AGAINST THE REVENUE BY THE DECISION OF THE TRIBUNAL IN ASSESSEES OWN C ASE FOR A.Y. 2010-11 VIDE ITA NO. 5508/M/2014. 4. THE LD. DEPARTMENTAL REPRESENTATIVE COULD NOT BR ING ANY DISTINGUISHING DECISION IN FAVOUR OF THE REVENUE. 5. WE HAVE CAREFULLY PERUSED THE ORDERS OF THE AUTH ORITIES BELOW. WE FIND FORCE IN THE CONTENTION OF THE LD. COUNSEL. T HE TRIBUNAL IN A.Y. 2010-11 HAD THE OCCASION TO CONSIDER IDENTICAL ISSU ES IN ITA NO. 5508/M/14. IN SO FAR AS THE ISSUE RELATING TO THE CLAIM OF DEPRECIATION IS CONCERNED, THE TRIBUNAL HAS CONSIDERED THIS ISSUE A T PARA-40 OF ITS ORDER AND AT PARA-41 FOLLOWING THE DECISION OF THE HONBL E JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS INSTITUTE OF BANKING PE RSONNEL SELECTION 264 ITR 110, SET ASIDE THE ORDER OF THE LD. CIT(A) AND DIRECTED THE AO TO ALLOW THE RIGHTFUL CLAIM OF DEPRECIATION. RESPECTF ULLY FOLLOWING THE DECISION OF THE CO-ORDINATE BENCH IN ASSESSEES OWN CASE, WE DIRECT ACCORDINGLY. 6. IN SO FAR AS THE ISSUE RELATING TO THE CARRY FO RWARD OF THE DEFICIT OF EARLIER YEARS IS CONCERNED, THE TRIBUNAL HAS CONSID ERED THIS ISSUE AT PARA- 45 OF ITS ORDER AND AT PARA-46 DIRECTED THE AO TO A LLOW THE BROUGHT FORWARD DEFICIT AND IF THE DEFICIT STILL REMAINS, A LLOW IT TO BE CARRIED ITA NO. 5311/M/2012 3 FORWARD. RESPECTFULLY FOLLOWING THE DECISION OF TH E CO-ORDINATE BENCH, WE HOLD ACCORDINGLY. 7. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING ON 10 TH MARCH, 2015. SD/- SD/- (D.MANMOHAN ) (N.K. BILLAIYA) ! / VICE PRESIDENT #) *+ / ACCOUNTANT MEMBER MUMBAI; 9* DATED : 10 TH MARCH, 2015 . . ./ RJ , SR. PS . . ./ RJ , SR. PS *#7 *#7 *#7 *#7 4 44 4 15% 15% 15% 15% :#%,5 :#%,5 :#%,5 :#%,5 / COPY OF THE ORDER FORWARDED TO : 1. -0 / THE APPELLANT 2. 12-0 / THE RESPONDENT. 3. ; ( ) / THE CIT(A)- 4. ; / CIT 5. %<= 15 , , / DR, ITAT, MUMBAI 6. = > / GUARD FILE. *#7 *#7 *#7 *#7 / BY ORDER, 2%5 15 //TRUE COPY// / . . . . (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI ITA NO. 5311/M/2012 4 DATE INITIALS 1. DRAFT DICTATED ON: 10.03.2015 SR. PS/PS 2. DRAFT PLACED BEFORE AUTHOR: 11.03.2015 SR. PS/PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER: JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER: JM/AM 5. APPROVED DRAFT COMES TO THE SR. PS/PS: SR. PS/PS 6. ORDER PRONOUNCED ON: SR. PS/PS 7. FILE SENT TO THE BENCH CLERK: 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK: SR. PS/PS 9. DATE ON WHICH FILE GOES TO AR 10. DATE OF DISPATCH OF ORDER: