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2017 (12) TMI 1010

Head Note / Extract:
Disallowance of Depreciation - appellant is a charitable institution u/s 12A – AO held that the assessee claims expenditure for acquisition of assets claiming depreciation in the computation of income though the appellant enjoys a 100% write off of the cost of assets resulting in double deduction of capital expenditure – assessee contented that the system of allowing depreciation was followed by the assessee for several years - Held that:- On perusal of the judgment of the High Court [2012 (4) TMI 115 - KERALA HIGH COURT] we find that though the question of law is answered in favour of the Revenue. However, at the same time, the appellant was granted relief in the following terms:

“We find force in this contention because assessee cannot be taken by surprise by disallowing depreciation which was being allowed for several years and to demand tax for one year after making dis-allowance. We feel assessee should be allowed to write back the depreciation for this year and even for previous and then allow the same to be carried forward for application for subsequent years. It is for the assessee to write back depreciation and if done the assessing officer will modify the assessment determining higher income and allow recomputed income with the depreciation written back by the assessee to be carried forward for subsequent years for application for charitable purposes.”

Since the High Court has also already given the benefit for other assessment years we do not find any reason to interfere with the order passed by the High Court. Appeal dismissed.


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