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2014 (1) TMI 599 - AT - Income TaxWhether depreciation on assets claimed as application of income be treated as double deduction - Held that:- The assessee has filed revised depreciation workings and revised memo of total income, wherein they have claimed depreciation only on those assets, the cost of which were not claimed as deduction as application of income - The assessing officer has not examined the said submissions made by the assessees - Following M/s Lissie Medical Insitution [2010 (10) TMI 667 - ITAT, COCHIN] - Depreciation is admissible on those assets, the cost of which was not claimed as deduction as application of income - The issue has been restored for fresh examination. Quantum of application of income - Held that:- The AO has simply allowed the deduction of Rs.27,80,774/- and did not discuss anything about the reasons for rejecting the claim of the assessee in respect of the balance amount - The AO has not considered the revised computation filed by the assessee - The issue has been restored for fresh examination.
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