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2017 (10) TMI 1096 - AT - Income TaxRevision u/s 263 - assessing officer has not made any reference with regard to the verification of TDS certificates and the claim of depreciation of asset, claimed by assessee with respect to superstructure of multiplex cinema - Held that:- The perusal of the assessment order reveals that the assessing officer has not raised any query with regard to the nature of asset, lease hold period of building of Multiplex Theater. Further, the assessee claimed credit of TDS of ₹ 2,54,69,821/-, the assessing officer has not made any inquiry nor verified the TDS certificates and the books of account. The assessee has not offered the advertisement income to tax. The assessee claimed deduction of portion on ticket amount as entertainment tax without offering it to income by treating it as capital receipt. The assessing officer allowed the payment as revenue expenditure without examining the scheme of subsidy of Maharashtra Government for entertainment tax vis a vis its taxablity. The assessing officer impliedly allowed the relief to the assessee without making any discussion on the issues. In the present case the assessing officer mechanically accepted the claim with regards to the depreciation on fixed asset/ Multiplex Building and on the issue of TDS certificate, if the corresponding income was offered to tax as no reconciliation was made. Further the assessing officer without calling and examining the scheme of Government of Maharashtra on entertainment tax treated the entertainment tax same as revenue receipt. In the present case the order sought to be revived reflects that it was passed in mechanical way and without application of mind by assessing officer. Thus, in view of the forgoing reasons the assessment order was passed without making requisite inquiries will satisfy the condition of the order being erroneous and prejudicial to the interest of revenue - Decided against assessee.
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