DCIT, Hyderabad V. M/s SP Software Pvt Ltd, Hyderabad

ITA 77/HYD/2010

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 3415 (ITAT-HYDERABAD)
• Duration Of Justice: 2 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-04-2010
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 31-03-2010
• Assessment Year: 2006-2007
• Appeal Filed On: 18-01-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: H PHANI RAJU
• Assessee Lawyers: MOHAMMED AFZAL
• Keywords: Depreciation
• Section: 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A , HYDERABAD BEFORE SHRI G.C. GUPTA, VICE PRESIDENT AND SHRI CHANDRA POOJARI ACCOUNTANT MEMBER ITA NO.77/HYD/2010 A.Y.: 2006-07 THE DCIT, CIRCLE 3(2), HYDERABAD VS. M/S S.P. SOFTWARE (P) LTD., HYDERABAD (PAN AACCS 8407 N) (APPELLANT) (RESPONDENT) APPELLANT BY: SHRI H. PHANI RAJU, D.R. RESPONDENT BY: SHRI MOHAMMED AFZAL O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: THIS APPEAL PREFERRED BY THE REVENUE IS DIRECTED A GAINST THE ORDER PASSED BY THE CIT(A)-IV, HYDERABAD DATED 23.10.2 009 AND PERTAINS TO THE ASSESSMENT YEAR 2006-07. 2. THE REVENUE RAISED THE FOLLOWING GROUNDS: THE CIT(A) ERRED IN ALLOWING DEPRECIATION ON A FICT ITIOUS ASSET WHERE AS AN ASSET HAS TO BE ACQUIRED BY THE ASSESSEE FOR ENT ITLEMENT OF DEPRECIATION. 3. AFTER HEARING FROM BOTH THE PARTIES, WE ARE OF THE OPINION THAT THIS ISSUE WAS CONSIDERED BY THIS TRIBUNAL, A BE NCH, VIDE ITS ORDER DATED 30.9.2009 IN ASSESSEES OWN CASE ON EARLIER ASSESSMENT YEARS 2001-2002 TO 2003-04 IN ITA NO.534/HYD/2008 AND ITA NOS.151 TO 153/HYD/2009 AND ALLOWED THE CLAIM OF THE ASSESSEE ON THI S ISSUE. FOLLOWING THE ABOVE ORDER OF THIS TRIBUNAL, WE DISMI SS THE REVENUE 2 2 APPEAL. THE REGISTRY IS DIRECTED TO ENCLOSE THE EARLIER ORDER CITED SUPRA ALONG WITH THIS ORDER FOR READY REFERENCE. 4. IN THE RESULT, THE REVENUE APPEAL STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT : 9. 4.2010 SD/- SD/- G.C. GUPTA CHANDRA POOJARI VICE PRESIDENT ACCOUNTANT MEMBER DATED THE 9 TH APRIL, 2010 COPY FORWARDED TO: 1. M/S S.P. SOFTWARE (P) LTD., 1-10-45/46/1, CHIKOTI GARDENS, BEGUMPET, HYDERABAD 2. DY. CIT, CIRCLE 3(2), HYDERABAD 3. CIT(A)- IV, HYDERABAD. 4. CIT, HYDERABAD 5. THE D.R., ITAT, HYDERABAD. NP