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2015 (11) TMI 1851 - AT - Income TaxDisallowance on account of depreciation to assessee trust - assessment of trust - HELD THAT:- CIT(A) has relied upon various judgments which is in favour of the Revenue. Similarly, the Ld. Counsel for the assessee has also relied upon various judgment including the judgment of the Hon’ble Delhi High Cour which are decided in favour of the assessee. No decision, direct on the point, of Hon’ble Jurisdictional High court has been brought to my notice. Keeping in view of the facts and circumstances of the present case and the judgment cited by both the parties which are in favour of the assessee as well as in favour of the Revenue also, we refer the Hon’ble Apex Court decision in the case of M/s Vegetable Products Ltd. [1973 (1) TMI 1 - SUPREME COURT], wherein it has been held that in the taxing provision if two constructions are possible, one favouring assessee should be adopted. Respectfully following the above precedent, decide this issue in favour of the assessee and against the revenue and accordingly delete the addition in dispute and decide the ground no. 2 in favour of the assessee. Not allowing the exemption u/s. 10(23C)(iiiae) - HELD THAT:- As per the AO, the assessee has not filed any documentary evidence before the lower authorities. But before me the assessee has filed a Paper Book for substantiating his claim having copy of assessee’s reply dated 17.12.2012 filed to the AO; copy of assessee’s reply dated 8.1.2013 filed to the AO alongwith annexures; copy of assessee’s reply dated 22.1.2013 filed to the AO; copy of assessee’s submissions dated 9.1.2015 filed before the Ld. CIT(A) and copy of assessee’s submissions dated 30.4.2015 filed before the Ld. CIT(A) which needs to be considered afresh, under the law. Therefore, in the interest of justice, this issue is remitted back to the file of the AO for fresh consideration, after giving adequate opportunity of being heard to the assessee.
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