INDIAN WRITING INSTRUMENTS P.LTD, MUMBAI V. DCIT 3(2), MUMBAI

ITA 544/MUM/2013

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 78715 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 2 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-04-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I
• Assessment Year: 2009-2010
• Appeal Filed On: 21-01-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHOK SURI
• Keywords: Depreciation; Additional depreciation
• Section: 154

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL I BENCH, MUMBAI . . , . , ! BEFORE SHRI I.P. BANSAL, JM AND RAJENDRA, AM ./ I.T.A. NO.544/MUM/2013 ( ' ' ' ' # # # # / ASSESSMENT YEAR : 2009-10 INDIAN WRITING INSTUMENTS P. LTD., 1213, MAKER CHAMBERS V, 221, NARIMAN POINT, MUMBAI 400 021. ' ' ' ' / VS. THE DY. COMMISSIONER OF INCOME TAX 3(2), AAYKAR BHAVAN, MK ROAD, MUMBAI 400 020. $ ./ % ./ PAN/GIR NO. : AAACI 1987 R ( $& / APPELLANT ) .. ( '($& / RESPONDENT ) $& ) / APPELLANT BY: SHRI J.P.BAIRAGRA '($& * ) / RESPONDENT BY : SHRI ASHOK SURI ' * +, / DATE OF HEARING : 09/04/2014 -.# * +, / DATE OF PRONOUNCEMENT : 09/04/2014 / / O R D E R PER I.P.BANSAL,J.M: THIS IS AN APPEAL FILED BY ASSESSEE AND IT IS DIRE CTED AGAINST THE ORDER PASSED BY LD. CIT(A)-4, MUMBAI DATED 17/12/2012 FO R ASSESSMENT YEAR 2009- 10. THE GROUNDS OF APPEAL RAISED BY THE ASSESSEE READ AS UNDER: 1. THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS ) ERRED IN CONFIRMING THE DISALLOWANCE OF ADDITIONAL DEPRECIATION OF RS. 29,9 0,195/-. 2. THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) FURTHER ERRED IN CONFIRMING THE ACTION OF THE ASSESSING OFFICER IN HOLDING THAT THE APPELLANT COMPANY WAS NOT ENTITLED TO ADDITIONAL DEPRECIATION @ 10% ON THE PL ANT AND MACHINERY WHICH WERE INSTALLED LAST YEAR I.E. ASST. YEAR 2008-09, AS IN THE LAST YEAR ADDITIONAL DEPRECIATION @ 1O% WAS ONLY CLAIMED BECAUSE THESE M ACHINERIES WERE INSTALLED AFTER 30-9-2007, THEREBY USED FOR LESS THAN 180 DAY S. ./ I.T.A. NO.544/MUM/2013 ( ' ' ' ' # # # # / ASSESSMENT YEAR : 2009-10 2 3. THE APPELLANT COMPANY CRAVES LEAVE TO ADD TO, AL TER OR AMEND ANY OF THE AFORESAID GROUNDS, WHICH ARE WITHOUT PREJUDICE TO E ACH OTHER, BEFORE OR AT THE TIME OF HEARING. 2. AT THE OUTSET LD. A.R SUBMITTED THAT THE GROUNDS RAISED BY THE ASSESSEE ARE COVERED IN FAVOUR OF THE ASSESSEE BY THE ORDER OF THE TRIBUNAL DATED 19/3/2014 IN ITA NO.6509/MUM/2012 IN RESPECT OF AS SESSMENT YEAR 2007-08 IN THE CASE OF THE ASSESSEE. COPY OF THE SAID ORD ER WAS PLACED ON OUR RECORD AND WAS ALSO GIVEN TO LD. DR. 3. LD. DR AFTER GOING THROUGH THE ORDER ADMITTED T HAT THE ISSUE RAISED BY THE ASSESSEE IS COVERED BY THE AFOREMENTIONED ORDER. T HE RELEVANT OBSERVATION OF THE TRIBUNAL ARE AS UNDER: 12. WE HAVE HEARD THE ARGUMENTS AND HAVE PERUSED T HE VARIOUS DECISIONS, AND WE FIND THE ISSUE TO BE SQUARELY COVERED BY THE DECISI ONS AS CITED IN THE COURSE OF HEARING, RENDERED BY THE CO-ORDINATE BENCHES OF TH E ITAT DELHI, ON THE ISSUE. 13. RESPECTFULLY, THEREFORE, FOLLOWING THE DECISIO NS OF THE VARIOUS FORA AND THE DECISIONS RENDERED BY THE CO-ORDINATE BENCHES AT DE LHI IN THE CASE OF COSMO FILMS LTD. (SUPRA) AND SIL INVESTMENTS LTD. (SUPRA) WE SE T ASIDE THE ORDER OF THE CIT(A) AND DIRECT THE AO TO ALLOW THE CLAIM OF THE ASSESSE E PERTAINING TO ADDITIONAL DEPRECIATION. 14. SINCE WE HAVE ALLOWED THE CLAIM OF THE ASSESSEE ON MERITS, GROUNDS PERTAINING OF SECTION 154 BECOME INFRUCTUOUS. HENCE THE SAME A RE DISMISSED. 4. IN THIS VIEW OF THE SITUATION, AFTER HEARING BOT H THE PARTIES, RESPECTFULLY FOLLOWING THE AFOREMENTIONED ORDER OF THE TRIBUNAL IN ASSESSEES OWN CASE WE DECIDE THE APPEAL IN FAVOUR OF THE ASSESSEE. ACCO RDINGLY, THE DISALLOWANCE OF ADDITIONAL DEPRECIATION OF RS.29,90,195/- IS DELETE D. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED IN THE MANNER AFORESAID. ORDER PRONOUNCED IN THE OPEN COURT ON 09/04/2014 . / * -.# 0 1'2 09/04/2014 . * 3 SD/- SD/- (RAJENDRA) . . (I.P.BANSAL) /ACCOUNTANT MEMBER /JUDICIAL MEMBER MUMBAI; 1' DATED 09/04/2014 ./ I.T.A. NO.544/MUM/2013 ( ' ' ' ' # # # # / ASSESSMENT YEAR : 2009-10 3 / // / * ** * '+4 '+4 '+4 '+4 54#+ 54#+ 54#+ 54#+ / COPY OF THE ORDER FORWARDED TO : 1. $& / THE APPELLANT 2. '($& / THE RESPONDENT. 3. 6 ( ) / THE CIT(A)- 4. 6 / CIT 5. 473 '+' , , / DR, ITAT, MUMBAI 6. 38 9 / GUARD FILE. /' /' /' /' / BY ORDER, (4+ '+ //TRUE COPY// : :: : / ; ; ; ; (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI . ' . .VM , SR. PS