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2015 (10) TMI 472 - AT - Income TaxAddition under the head “ labour charges shown payable” - CIT(A) deleted the addition - assessee’s audit report had shown this sum as provision on current liabilities - Held that:- Its P & L forming part of the case file reveals diamond cutting labour charges expenses of ₹ 28,01,793/- up to 31/03/2007 i.e. much more than ₹ 2 lacs stated in assessment order. There is no other material quoted either in assessment or during arguments before us so as to dispute genuineness of this expenditure claim of ₹ 17,30,383/-. - Decided against revenue. Depreciation disallowance - Held that:- Identical depreciation claim qua the very machines stands allowed in a scrutiny assessment framed for preceding assessment year 2006-07. The hon’ble jurisdictional high court in ACIT vs. S K Patel Family Trust [2012 (6) TMI 790 - GUJARAT HIGH COURT] holds that once a block of assets is put to sue, segregation of assets forming part thereof for the purpose of granting depreciation on the ground that the same had not been put to use; is not justifiable. This lordships quote earlier decision reported as CIT vs. Sonal Hem Industries (2009 (2) TMI 84 - GUJARAT HIGH COURT). The Revenue does not point out distinction on facts and law. Its corresponding ground is accordingly rejected.- Decided against revenue. Low household withdrawal addition - Held that:- It has come on record that assessee is a bachelor, and his father has already made withdrawal of ₹ 5,83,000/- sufficient for the family. - Decided against revenue.
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