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2015 (7) TMI 573

Disallowance of depreciation - Absolute stay on the recovery proceedings - Held that:- Keeping in mind the ratio of case of Commissioner of Income Tax v. Rao Bahadur Calawala Cunnan Chetty Charities [1979 (8) TMI 17 - MADRAS High Court] read with the aforesaid circular of the Central Board of Direct Taxes in F.No.404/10/2009-ITC dated 1.12.2009 affirming Instruction No.1914 dated 2.12.1993, is of the considered view that when the issue whether the assessee is entitled to the depreciation claim f .....

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. 19315 of 2015 - Dated:- 3-7-2015 - The Honourable Mr. Justice T. Raja,J. For the Petitioner : Dr. Anita Sumanth For the Respondents : Mr. T. Pramod Kumar Chopda Senior Standing Counsel ORDER This writ petition has been filed challenging the correctness of the order dated 19.6.2015 passed by the Deputy Commissioner of Income Tax (Exemptions)-I, Chennai Circle, the first respondent herein in PAN No. AABTS7096K/2015-16, in and by which the assessing officer has turned down the request for grant o .....

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udication. Again the assessing officer has concluded the case rejecting the claim of corpus donations under Section 11(1)(d) of the Income Tax Act, resultantly, he further proceeded to disallow the claim of depreciation on fixed assets. Having been aggrieved by the assessment order, the petitioner preferred an appeal before the Commissioner of Income Tax (Appeals), Chennai. In the meanwhile, subsequent to the order of assessment, recovery proceedings were initiated, therefore, the petitioner was .....

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taying demand have been completely overlooked by the assessing officer. She has also further pleaded with this Court that when the guidelines are very clear and explicit that a demand will be stayed only if there are valid reasons for doing so, more particularly, if the demand in dispute relates to issues that have been decided in assessee's favour by an appellate authority or Court earlier, the assessing officer, in all fairness, ought to have considered the stay application in favour of th .....

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rom June, 2015 at the rate of ₹ 1,84,800/- per month and submit the copy of challan thereof to the office on or before 30th of that month for stay of the balance demand of ₹ 18,47,190/-, the petitioner is put to great hardship, for the reason that when this Court has decided the matter giving a quietus to the issue that the assessee is entitled to claim depreciation for the assessment year 2009-10, the conditional order passed by the assessing officer is liable to go. 4. Per contra, .....

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ecisions of the jurisdictional Tribunal in G.K.R.Charities v. Deputy Director of Income Tax (Exemptions) reported in 51 SOT 538 and in Joint Commissioner of Income Tax v. Bhaktavatsalam Memorial Trust reported in 30 ITR 264, the assessing officer, being aware of the judgments passed by various High Courts, has come to the conclusion that there is a serious dispute on the issue whether the assessee is entitled to the depreciation claim for the assessment year 2009-10, therefore, no fault can be f .....

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see must be intimated of the decision without delay. (ii) Where stay petitions are made to the authorities higher than the Assessing Officer (DC/CIT/CC), it is the responsibility of the higher authorities to dispose of the petitions without any delay, and in any event within two weeks of the receipt of the petition. Such a decision should be communicated to the assessee and the Assessing Officer immediately. (iii) The decision in the matter of stay of demand should normally be taken by Assessing .....

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on of law in respect of which there exist conflicting decisions of one or more High Courts (not of the High Court under whose jurisdiction the Assessing Officer is working); or (c) If the High Court having jurisdiction has adopted a contrary interpretation but the Department has not accepted that judgment. 6. In the case on hand, this Court, after hearing the learned counsel on either side, keeping in mind the ratio of this Court in the case of Commissioner of Income Tax v. Rao Bahadur Calawala .....

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nsideration. Accordingly, the impugned order is set aside. It is open to the second respondent-Commissioner of Income Tax (Appeals)-17, Chennai, the appellate authority to expedite the hearing of the pending appeal and dispose of the same on merits and in accordance with law at the earliest possible time. Needless to mention that the observations made in this order shall not be carried away by the appellate authority for consideration of the appeal on merits. The writ petition stands allowed. Co .....

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