Times Internet Ltd., Gurgaon V. Addl. CIT, New Delhi

MA 160/DEL/2022

AI Insights

The case involves Times Internet Ltd., the appellant, who filed a Miscellaneous Application against an order of the Income Tax Appellate Tribunal. The application sought rectification of what the appellant identified as apparent mistakes in the Tribunal's earlier order dated 18.05.2022. The primary issue was the incorrect affirmation of the CIT(A) order regarding the depreciation rate on software utilized by the company. The Tribunal acknowledged the mistake and corrected the order to allow a depreciation rate of 60% on the software, thus favoring the appellant.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 131914 (ITAT-DELHI)
• Duration Of Justice: 9 month(s) 28 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 03-05-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Next Hearing Date: 16-03-2023
• Assessment Year: 2009-2010
• Appeal Filed On: 05-07-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Depreciation

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL DELHIBENCH ‘G’, NEW DELHI Before Sh. Saktijit Dey, Judicial Member Dr. B. R. R. Kumar, Accountant Member MA No. 160/Del/2022 (in ITA No. 1061/Del/2017 : Asstt. Year: 2009-10) Times Internet Ltd., 5 th Floor, Ecstasy IT Park, Plot No. 391, Udyog Vihar, Phase-III, Gurgaon Vs. Addl. CIT, Special Range-9, New Delhi (APPELLANT) (RESPONDENT) PAN No. AABCT1559M Assessee by : Ms. Neha Gupta, CA Sh. Mukesh Gupta, CA Revenue by : Sh. Sanjay Kumar, Sr. DR Date of Hearing: 17.03.2023 Date of Pronouncement: 04.05.2023 ORDER Per Dr. B. R. R. Kumar, Accountant Member: This Miscellaneous Application is filed by the assessee against the order passed by the Tribunal, where certain mistakes crept in the order. Therefore, the applicant prays for rectification of the errors apparent from the order by way of this miscellaneous application. Corrigendum 2. Para 7 of the order dated 18.05.2022 reads as under: “7. In the absence of any material change and legal proposition, we affirm the order of the ld. CIT(A).” MA No. 160/Del/2022 Times Internet Ltd. 2 3. Here onwards, this will read as, “7. In the absence of any material change and legal proposition, the appeal of the assessee is allowed.” 4. To clarify, the assessee is allowed to claim depreciation @ 60% on the software utilized. 5. In the result, the Miscellaneous Application of the assessee is allowed. Order Pronounced in the Open Court on 04/05/2023. Sd/- Sd/- (Saktijit Dey) (Dr. B. R. R. Kumar) Judicial Member Accountant Member Dated: 04/05/2023 *Subodh Kumar, Sr. PS* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR