Appeal details
Counselvise Citation
[2015] 140 COUNSELVISE.COM (IT) 96740 (ITAT-COCHIN)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
8 month(s) 3 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
05-10-2015
Appeal Filed By
Assessee
Order Result
Dismissed
Bench Allotted
DB
Next Hearing Date
05-10-2015
Assessment Year
2011-2012
Appeal Filed On
02-02-2015
Judgement Text
ITA NO .80/C/2015 1 IN THE INCOME TAX APPEL L A TE T R IBUNAL COCHIN BENCH , COCHIN BEFORE S/SH RI B P JAIN , A M & G EORGE GEORGE.K , J M ITA NO . 80/COCH/2015 (ASST YEAR 2011 - 12 ) MATA AMRITANANDAMAYI MATH AMRITAPURAI PO KOLLAM DIST KERALA VS THE ASST COMMR OF INCOME TAX CIRCLE 1 ALA PPUZHA ( APPELLANT) (RESPONDENT) PAN NO. AAATM2403M ASSESSEE BY SH R KRISHNAN REVENUE BY SH K P GOPAKUMAR, SR DR DATE OF HEARING 05 TH , OCT 2015 DATE OF PRONOUNCEMENT 5 TH OCT 2015 OR D ER PER GEORGE GEORGE. K. J M: THIS APPEAL AT THE INST ANCE OF THE ASSESSEE IS DIRECTED AGAINST THE CIT(A)S ORDER DATED 31.10.2014. THE RELEVANT ASSESSMENT YEAR IS 2011 - 12. 2 THE SOLITARY ISSUE THAT ARISES FOR OUR CONSIDERATION IS WHETHER DEPRECIATION CAN BE CLAIMED AS DEDUCTION WHEN THE COST OF ASSET HAS BE EN ALLOWED AS APPLICATION OF INCOME. 3 THE BRIEF FACTS OF THE CASE ARE AS FOLLOWS: THE ASSESSEE IS A CHARITABLE TRUST REGISTERED U/S 12A OF THE ACT. THE RETURN OF INCOME HAS BEEN FILED DECLARING LOSS INCOME OF RS. 4,48,87,70,818/ - . T HE ITA NO .80/C/2015 2 ASSESSMENT U/S 143 (3) OF THE ACT WAS COMPLETED BY DISALLOWING THE DEPRECIATION TO THE EXTENT OF RS. 10,36,09,160/ - . THE AO FOLLOWED THE JUDGMENT OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF LISSIE MEDICAL INSTITUTIONS VS CIT REPORTED IN 348 ITR 344(KER) AND HEL D THAT NO DEPRECIATION IS ALLOWABLE IN RESPECT OF THE ASSETS ALREADY CLAIMED AS APPLICATION OF INCOME. 4 ON FURTHER APPEAL, THE CIT(A) CONFIRMED THE ASSESSMENT ORDER. 5 THE ASSESSEE BEING AGGRIEVED IS IN APPEAL BEFORE US. THE LD COUNSEL FOR THE ASSESS EE FAIRLY SUBMITTED THAT THE ISSUE IN QUESTION IS COVERED BY THE JUDGMENT OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF LISSIE MEDICAL INSTITUTIONS (SUPRA). THE LD DR PRESENT WAS DULY HEARD. 6 WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE MATE RIAL ON RECORD. THE SOLITARY ISSUE THAT ARISES FOR OUR CONSIDERATION IS WHETHER DEPRECIATION U/S 32 CAN BE ALLOWED ON ASSETS , FOR WHICH THE COST OF ASSETS HAS BEEN CONSIDERED AS APPLICATION OF INCOME U/S 11(1 )( A) OF THE ACT. THIS ISSUE HAS BEEN COMPREH ENSIVELY CONSIDERED AND ADJUDICATED IN FAVOUR OF THE REVENUE BY THE JUDGMENT OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF LISSIE MEDICAL INSTITUTIONS (SUPRA). IN VIEW OF THE ABOVE HONBLE JURISDICTIONAL HIGH COURTS JUDGMENT, WE UPHOLD THE ORDER OF THE CIT(A) AND REJECT THE CLAIM OF THE ASSESSEE. ITA NO .80/C/2015 3 7 IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 5 TH DAY OF OCT 2015 . SD/ - SD/ - ( B P JAIN ) ( GEORGE GEORGE K ) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN: DATED 5 TH OCT 2015 RAJ* COPY TO: 1 . APPELLANT 2 . RESPONDENT 3 . CIT(A) 4 . CIT , 5 . DR 6 . GUARD FILE BY ORDER ASSISTANT REGISTRAR ITAT, COCHIN
