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2022 (7) TMI 891 - AT - Income TaxRevision u/s 263 - As per CIT Assessee has claimed depreciation and also claimed capital expenditure and thereby violated the provisions of Section 11(6) of the Act - As argued that the assessee has claimed depreciation on only such assets which have not been claimed as application - HELD THAT:- A perusal of the audit report along with the utilisation chart towards asset creation clearly shows that the assessee has not claimed depreciation in respect of the assets in respect of which the claim of application has been made. It is also noticed that this has categorically been mentioned in the reply filed before the CIT(E), Hyderabad CIT(E), however, did not consider the reply of the assessee nor he has done any verification but has simply proceeded to direct the AO to examine the issue afresh. As the ld. CIT(E) has not considered the explanation given by the assessee and as it is noticed that the assessee has not claimed the depreciation on the items on which the assessee has claimed application, we are of the view that there is no violation of provisions of Section 11(6) in the case of the assessee for both the assessment years under consideration. Consequently, the order passed by the ld. CIT(E) in both the appeals under consideration are hereby quashed. Appeals of the assessee are allowed.
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