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2015 (6) TMI 764 - AT - Income TaxDisallowance of excess utilization of income - CIT (Appeals) in allowing credit for 15% of the gross receipts in working the short fall of the amounts spent when the assessee - Held that:- CIT (Appeals) on proper appreciation of facts in the light of the provisions of section 11 of the Act and the judgment of the Hon'ble Supreme Court in the case of A.L.N. Rao Charitable Trust (1995 (10) TMI 2 - SUPREME Court) rightly decided the issue in favour of the assessee. The learned D.R for the Revenue did not contribute much on this issue and merely relied upon the order of the Assessing Officer without pointing out any infirmity in the order of the learned CIT (Appeals) in allowing the exemption of 15% on the gross receipts. Thus we do not find any justification to interfere in the order of the learned CIT (Appeals). - Decided against revenue. Disallowance of depreciation - claim of depreciation was raised subsequently during the course of assessment proceedings - CIT(A) allowed claim - Held that:- CIT (Appeals) followed the decision of I.T.A.T., Chandigarh Bench in the case of Budhewal Cooperative Sugar Mills Ltd. Vs. The A.C.I.T. (OSD) [2013 (5) TMI 802 - ITAT CHANDIGARH] in which it was held that the assessee can raise additional ground and make claim during the assessment proceedings. The learned CIT (Appeals) also relied upon Explanation-5 to section 32 of the Act, which provides "for the removal of doubts, it is hereby declared that the provisions of this sub-section shall apply whether or not the assessee has claimed the deduction in respect of depreciation in computing his total income". The learned CIT (Appeals), therefore, noted that the depreciation has to be allowed to the assessee whether it is claimed while computing total income or not. He has also relied upon the order of the I.T.A.T., Bangalore Bench in the case of Rakesh Singh Vs. ACIT, [2012 (11) TMI 503 - ITAT BANGALORE ] in support of his findings. The learned CIT (Appeals), therefore, following the above decisions and Explanation-5 to section 32 of Income Tax Act directed the Assessing Officer to allow the claim of depreciation. In principle, the Revenue did not agitate the allowing of depreciation to the assessee. Therefore, nothing survives in favour of the Revenue. - Decided against revenue.
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