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2019 (7) TMI 542 - HC - Income TaxDepreciation claim on assessee trust - HELD THAT:- Tribunal holds that there is no clarity as to how the computation of depreciation has been made and it opined that the quantum of depreciation allowable to the assessee for the impugned assessment years requires a re-visit by the Assessing Officer. Accordingly, the finding was set aside and the matter has been remanded back to the Assessing Officer for consideration afresh in accordance with law. First and second substantial questions of law would not arise for consideration, since the matter has been remanded to the Tribunal for fresh consideration. Therefore, the first and second substantial questions of law are not answered and are left open. Expenditure paid directly to its retired employees - Expenditure incurred allowable under Section 37(1) even after allowing expenditure under Section 36(1)(iv) and (v) - Government of India has approved and notified an Employees Retirement Regulations termed as the “Tuticorin Port Trust Employees Regulations, 1979” - HELD THAT:- Nature of deduction claimed by the assessee in respect of the payments made in terms of the statutory regulation would fall within the general deductions under Section 37 and cannot be brought u/s 36(1)(iv) and (v) of the Act. Therefore, the reasons assigned by the CIT(A) and the Tribunal are perfectly in order. Furthermore, the payments effected in terms of the Retirement Regulations, 1979 have been strictly made to the retired employees' account after deduction of tax at source wherever applicable. In respect of the claim for deduction on similar grounds made by the assessee for the earlier assessment years, the same has been granted and these contentions advanced by the assessee before the CIT(A) and the Tribunal were not disputed, neither there is any material placed before us to show that the assessee was factually wrong in raising such a contention. Therefore, we hold that the assessee having been granted similar benefit for the earlier years, the same cannot be denied for the subsequent years, especially when, the nature of payment is in the same fashion in terms of a statutory regulation. Revenue has not made out any ground to interfere with the order passed by the Tribunal.
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