St Joan's Educational Trust, Kolkata V. ITO, WD-1(3), KOLKATA, Kolkata

ITA 728/KOL/2015

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 4732 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 8 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-02-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2011-2012
• Appeal Filed On: 26-05-2015
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: ROBIN CHOWDHURY
• Keywords: Depreciation
• Section: 143(3); 22; 11

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C, BENC H KOLKATA BEFORE SHRI S.S. GODARA, JM &DR. A.L.SAINI, AM ./ITA NO.728/KOL/2015 ( / ASSESSMENT YEAR: 2011-12) ST. JOANS EDUCATIONAL TRUST CD-164, SECTOR-1, SALT LAKE CITY, KOLKATA-700064 VS. ITO(EXEMPTION), WARD-1(3), KOLKATA ./ ./PAN/GIR NO.: AABTS 5823 N (ASSESSEE) .. (REVENUE) ASSESSEE BY : SHRI AMIT AGARWAL, ADVOCATE RESPONDENT BY : SHRI ROBIN CHOWDHURY, ADDL. CIT DR / DATE OF HEARING : 05/02/2019 /DATE OF PRONOUNCEMENT : 08/02/2019 / O R D E R PER DR. A. L. SAINI: THE CAPTIONED APPEAL FILED BY THE ASSESSEE , P ERTAINING TO ASSESSMENT YEAR 2011-12 IS DIRECTED AGAINST THE ORDER PASSED BY THE COMMISSIONER OF INCOME TAX (APPEAL)-25, KOLKATA, WHICH IN TURN ARISES OUT OF A N ASSESSMENT ORDER PASSED BY THE ASSESSING OFFICER U/S 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT). 2. THE GROUNDS OF APPEAL RAISED BY THE ASSESSEE AR E AS FOLLOWS: 1. THAT, ON THE FACTS AND IN THE CIRCUMSTANCES OF T HE CASE, THE LD. COMMISSIONER OF INCOME-TAX (APPEALS) ERRED IN CONCURRING WITH ASSES SING OFFICER THAT THE ASSESSEE'S CLAIM FOR REVISION OF INCOME FOR AND FRO M THE ASSESSMENT YEAR 2002-03 ST. JOANS EDUCATIONAL TRUST ITA NO.728/KOL/2015 ASSESSMENT YEAR:2011-12 P PP PA AA AG GG GE EE E | || | 2 22 2 AND ONWARDS, FOR CORRECT COMPUTATION OF THE TAXABLE INCOME, IF ANY AT ALL, FOR THE ASSESSMENT YEAR2011-12 UNDER APPEAL, WAS NOT SUSTAI NABLE IN LAW. 2. THAT, WITHOUT PREJUDICE, FOR COMPUTATION OF THE CORRECT AMOUNT OF ACCUMULATION UNDER SECTION 11 (1 )AND SECTION 11 (2), AND ALSO T HE CARRY FORWARD OF DEFICIT, TO BE ALLOWED IN ASSESSMENT FOR THE ASSESSMENT YEAR 20 11-12, THE LD. COMMISSIONER OF INCOME TAX (APPEALS) EVEN OTHERWISE ERRED IN NOT ADMITTING THE ASSESSEE'S CLAIM TO REVISE THE COMPUTATION OF INCOME FOR AND F ROM THE ASSESSMENT YEAR 2002- 03 AND ONWARDS. 3. THAT, WITHOUT PREJUDICE, THE LD. COMMISSIONER OF INCOME-TAX (APPEALS) ERRED IN NOT ACCEPTING THE APPELLANT - ASSESSEE'S CONTENTION THAT FOR ALLOWING CORRECT AMOUNT OF DEPRECIATION FOR THE ASSESSMENT YEAR 2011 -12, THE REVISION OF THE INCOME FOR AND FROM THE ASSESSMENT YEAR 2002-03, AS CLAIMED BY THE ASSESSEE, WAS IN CONFORMITY WITH THE LAW PRONOUNCED BY THE HO N'BLE SUPREME COURT OF INDIA. 4. THAT THE APPELLANT CRAVES LEAVE TO ADDUCE ADDITI ONAL GROUNDS, AND/OR TO WITHDRAW OR AMEND ANY OF THE FOREGOING GROUNDS BEFO RE, OR AT THE TIME OF HEARING OF APPEAL. 3. AT THE OUTSET ITSELF THE LD. COUNSEL FOR THE ASS ESSEE SUBMITTED BEFORE THE BENCH THAT THE ASSESSEE TRUST HAS MADE REVISION OF INCOME FROM THE ASSESSMENT YEAR 2002- 03 ONWARDS FOR CORRECTION OF COMPUTATION OF TAXABL E INCOME. THE LD COUNSEL SUBMITTED THAT THE ASSESSING OFFICER HAS NOT CONSID ERED THE ASSESSEES CLAIM FOR REVISION OF INCOME FOR THE PURPOSE OF COMPUTATION O F CORRECT AMOUNT OF ACCUMULATION U/S 11(1) AND 11(2) AND ALSO CARRY FOR WARD OF DEFICIT, TO BE ALLOWED, IF ANY, IN ASSESSMENT FOR THE ASSESSMENT YEAR 2011 -12. THEREFORE, THIS ISSUE SHOULD BE REMITTED BACK TO THE FILE OF THE ASSESSING OFFIC ER FOR DE NOVO ADJUDICATION. THE LD. DR ALSO FAIRLY AGREED WITH THE SUBMISSION OF TH E ASSESSEE. 4. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE M ATERIAL AVAILABLE ON RECORD. WE NOTE THAT THE ASSESSEE TRUST HAS FILED REVISION OF INCOME FROM ASSESSMENT YEAR 2002-03 ONWARDS AND THIS REVISION OF INCOME OUGHT T O BE CONSIDERED BY THE ASSESSING OFFICER FOR COMPUTATION OF CORRECT AMOUNT OF ACCUMULATION U/S 11(1) AND 11(2) AND ALSO TO DETERMINE THE CARRY FORWARD O F DEFICIT. THEREFORE, WE THINK IT FIT AND APPROPRIATE TO REMIT THE ISSUE BACK TO THE FILE OF THE ASSESSING OFFICER WITH ST. JOANS EDUCATIONAL TRUST ITA NO.728/KOL/2015 ASSESSMENT YEAR:2011-12 P PP PA AA AG GG GE EE E | || | 3 33 3 THE DIRECTION TO CONSIDER THE ASSESSEES CLAIM FOR REVISION OF INCOME AND ADJUDICATE THE ISSUE DE NOVO, IN ACCORDANCE WITH LAW. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS TR EATED TO BE ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE COURT ON 08.0 2.2019 SD/- ( S.S.GODARA ) SD/- (A.L.SAINI) / JUDICIAL MEMBER / ACCOUNTANT MEMBER /KOLKATA; / DATE: 08/02/2019 ( SB, SR.PS ) COPY OF THE ORDER FORWARDED TO: 1. ST. JOANS EDUCATIONAL TRUST 2. ITO, EXEMPTION, WARD-1(3), KOLKATA 3. C.I.T(A)- 4. C.I.T.- KOLKATA. 5. CIT(DR), KOLKATA BENCHES, KOLKATA. 6. GUARD FILE. TRUE COPY BY ORDER ASSIST ANT REGISTRAR ITAT, KOLKA TA BENCHES