M/s.Cherian Varkey Construction Co. P. Ltd, Cochin V. The ACIT, Cochin

MA 21/COCH/2015

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5538 (ITAT-COCHIN)
• Duration Of Justice: 2 year(s) 1 month(s) 10 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 19-05-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 19-05-2017
• Assessment Year: 2006-2007
• Appeal Filed On: 09-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A DHANARAJ
• Assessee Lawyers: R KRISHNA IYER
• Section: 260A

Judgement Text

MA NO. 22/C/2017 1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH KOCHI BEFORE S/ SHRI ABRAHAM P GEORGE , AM & GEORGE GEORGE K, JM MISCELLANEOUS PETITION NO. 21/ COCH/201 5 ARISING OUT OF ITA NO 25 /COCH/2014 (ASST YEAR 20 06 - 07 ) M/S CHERIA VRKEY CONSTRUCTION CO P LTD K ADAVANTHARA COCHI 682 020 VS THE ASST COMMR OF INCOME TAX CIRCLE 1(1), KOCHI ( APP LICANT ) (RESPONDENT) PAN NO. AABCC8393A ASSESSEE BY S H R KRISHNA IYER REVENUE BY SHRI A DHANARAJ, SR. DR DATE OF HEARING 19 TH MAY 2017 DATE OF PRONOUNCEMENT 1 9 TH MAY2017 ORDER PER GEROGE GEORGE K, JM : THE MISCELLANEOUS APPLICATION , AT THE INSTANCE OF THE ASSESSEE, IS DIRECTED AGAINST ITAT ORDER DATED 8.12.2014 IN ITA NO.25/COCH/2014. 2 THE ONLY GRIEVANCE OF THE ASSESSEE IN THE MISCELLANEOUS PETITION IS THAT THE TRIBUNAL, IN ITS ORDER DATED 812.2014, DID NOT ELABORATELY DECIDED THE ISSUE WHETHER THE ADDITIONAL DEPRECATION IS TO BE REDUCED FROM THE WRITTEN DOWN VALUE (WDV) OF PLANT & MACHINERY. ACCORDING TO THE ASSESSEE, ADDITIONAL/INITIAL DEPRECATION SH OULD NOT BE REDUCED FROM THE WDV, BEING IN THE NATURE OF AN INCENTIVE. MA NO. 22/C/2017 2 3 THE LD DR PRESENT WAS DULY HEARD. 4 WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. THE TRIBUNAL, IN ITS ORDER DATED 8.12.2014 IN ITA NO.25/COCH/2014 HAD DEC IDED THE ABOVE SAID ISSUE AGAINST THE ASSESSEE. THE TRIBUNAL HELD IN PARA 12 OF ITS ORDER THAT WHEN THE ASSESSEE IS ENTITLED TO ADDITIONAL DEPRECATION, THE SAME NEEDS TO BE REDUCED FROM THE WDV. WHEN THE TRIBUNAL HAS TAKEN A CONSCIOUS DECISION AND HAD DECI DED THE MATTER AGAINST THE ASSESSEE, WE SEE NO MISTAKE APPARENT FROM RECORD, WARRANTING OUR INTERFERENCE U/S 254 (2) OF THE I T ACT. 4.1 MOREOVER, WE NOTICE THAT AS AGAINST THE ITAT ORDER IN ITA NO.25/COCH/2014 (ORDER DATED 8.12.2014), THE ASSESSEE HAD F ILED AN APPEAL U/S 260A OF THE I T ACT BEFORE THE HONBLE KERALA HIGH COURT AND THE SAME IS PENDING FOR ADJUDICATION. IF THE ASSESSEE IS AGGRIEVED BY THE TRIBUNALS ORDER DATED 8.12.2014, AS REGARDS THE ISSUE OF REDUCING THE ADDITIONAL DEPRECATION FROM WDV , THE SAME CAN BE AGITATED BEFORE THE HONBLE KERALA HIGH COURT. FOR THE AFORESAID REASONS, WE ARE OF THE VIEW THIS MISCELLANEOUS PETITION DOES NOT HAVE ANY MERITS AND WE REJECT THE SAME. 5 IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE ASSESS EE IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON THIS 19 TH DAY OF MAY 2017. SD/ - SD/ - ( ABRAHAM P GEORGE ) (GEORGE GEORGE K) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN: DATED 19 TH MAY 2017 RAJ* MA NO. 22/C/2017 3 COPY TO: 1 . APPELLANT 2 . RESPONDENT 3 . CIT(A) 4 . CIT, 5 . DR 6 . GUARD FILE BY ORDER ASSISTANT REGISTRAR ITAT, COCHIN