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2021 (8) TMI 128 - AT - Income TaxRectification of mistake u/s 254 - Nature of expenditure - Disallowance of lease rentals - capital or revenue expenditure - alternate plea the assessee had raised that even if the lease rentals are to be treated as capital expenditure, consequential depreciation on the same is to be allowed - It is the plea of the assessee in this MP that while the order of the Tribunal has specifically ruled on the alternate plea of granting depreciation, the substantive issue that the disallowance of the lease rentals is to be quashed, both on facts and legal principles, does not appear to have been specifically adjudicated, even though a general finding has been recorded - HELD THAT:- The mistake in the final Order of Assessment against which Ground No.14 was raised by the assessee was that instead of allowing ₹ 14,80,094/- as depreciation, the AO erroneously disallowed a sum of ₹ 1,49,65,386/- and added the said sum to the total income of the assessee. The Tribunal, while adjudicating the said issue, has rightly held in para 22 of its order that the AO should allow deduction of a sum of ₹ 14,80,094/- as depreciation instead of disallowing a sum of ₹ 1,49,65,386/-. There is no mistake much less a mistake apparent on the face of the record. These is no alternate plea and there could be only one plea i.e., to allow depreciation of ₹ 14,80,094/- and delete the addition of ₹ 1,49,65,386/- which the Tribunal has allowed. The allegations in the MP are all on the basis of surmises as to what the AO would do while giving effect to the order of the Tribunal. This MP is devoid of any merit and the same is dismissed. MP dismissed.
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