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2023 (1) TMI 64 - AT - Income TaxPrinciple of mutuality - CPC Bengaluru while processing the return of income considered amount as income of the assessee by treating as income not covered by mutuality - HELD THAT:- We find that there is no dispute that assessee was settled / incorporated as per the order of Hon'ble jurisdictional High Court to treat the effluent of hazardous / created in and around of Vapi. There is no dispute that the similar receipt from its members was treated as income in various preceding years. However, on appeal before Ld.NFAC/CIT(A) the assessee was granted relief in all preceding years and on further appeals by Department the order of Ld.NFAC/CIT(A) were upheld by Tribunal. As in assessee’s own case for assessment years 2013-14 [2021 (11) TMI 1123 - ITAT SURAT]as noted that assessee’s own case for AY 2010-11 [2018 (3) TMI 1983 - ITAT SURAT] the co-ordinate bench of Tribunal while following the order in earlier year accepted the status of assessee as a mutual association - No contrary facts or law is brought to our notice to take other view - Decided against revenue. Allowances of depreciation - not reducing the contribution of members for acquisition of assets while computing depreciation - HELD THAT:- As decided in assessee own case for assessment year 2013- 14 [2021 (11) TMI 1123 - ITAT SURAT] we held the principle of mutuality in the case of assessee, therefore, the allowances of depreciation and prior period expenses by AO has no bearing as the principle of mutuality has been accepted by the Tribunal. In the result, appeal of the assessee is set aside and disposed of for statistical purposes. This ground of Revenue’s appeal is allowed for statistical purposes.
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