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Asstt Director of Income Tax (E) TC-II Versus Escorts Cardiac Diseases Hospital Society

2015 (4) TMI 469 - ITAT DELHI

Disallowance of depreciation - Double deduction - Amount already allowed as application of income - Held that:- Following decision of DIRECTOR OF INCOME TAX Versus VISHWA JAGRITI MISSION [2012 (4) TMI 289 - DELHI HIGH COURT] - Decided against Revenue. - ITA No. 73/Del/2013 - Dated:- 9-3-2015 - N. K. Saini, AM And George George K, JM,JJ. For the Appellant : Smt Parwinder Kaur, Sr. DR For the Respondent : None ORDER Per: George George K: 1. This appeal, at the instance of the Revenue, is directed .....

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icit and allowing the set off for the same." 3. Briefly stated the facts of the case are as follows. The Assessing Officer in the order completed u/s 143(3) of the I.T. Act (order dated 25.11.2011) disallowed depreciation amounting to ₹ 14,92,992/. According to the AO, the capital cost of asset, on which depreciation is claimed was allowed as application of income. Therefore, according to AO allowing depreciation on these assets would tantamount double deduction. 4. The assessee being .....

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#39;s own case for AY 2007-08. 5. The Revenue being aggrieved is in appeal before us. The Ld. DR submitted that the order of the CIT(A) is contrary to the CBDT clarification dated 02.2.2012. It was further submitted that the Judgment of the Hon'ble Kerala High Court in the case of LISSIE Medical Institution reported in 348 ITR 344 is also in favour of the Revenue. None was present on behalf of the assessee. 6. We have heard Ld. DR and perused the material on record. The CIT(A) has allowed th .....

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ur of the appellant by relying on the judgement of Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Tiny Tots Education Society. Furthermore, similar issue has been decided by Hon'ble Delhi High Court in the latest judgement in the case of Vishwa Jagriti Mission, wherein, the Hon'ble Delhi High Court has decided the issue in favour of the appellant (2012- TIOL-271-HC- DEL-IT) by observing as under:- "13 The judgement of the Supreme Court in Escorts Limited Vs. Unio .....

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