TMI Blog2015 (10) TMI 1861X X X X Extracts X X X X X X X X Extracts X X X X ..... orward losses, we find that this part of the ground was not attended to by the CIT(A). Therefore, we remand this issue to the file of the CIT(A) with the direction to adjudicate the same by passing a speaking order and after granting a reasonable opportunity of being heard to the assessee. - Decided partly in favour of assessee for statistical purposes. - ITA No. 1867/Mds/2000 - - - Dated:- 12-6-2015 - N R S Ganesan, JM And D Karunakara Rao, AM,JJ. For the Appellant : Shri G Seetharaman, CA For the Respondent : Shri P Radhakrishnan, JCIT ORDER Per D. Karunakara Rao, Accountant Member This is the appeal by the assessee against the order of the Commissioner of Income-tax (Appeals)-I, Chennai, dated 28.8.2000 for asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wn value as on 31.3.1994 becomes relevant for the purpose of computing allowable depreciation for assessment year 1996-97. The Tribunal dismissed the said claim of the assessee. The matter traveled to the Hon'ble Madras High Court. This issue was allowed in favour of the assessee as per para 16,17 19 of the judgment. 4. Similarly, the second issue relates to setting off of the loss carried forward from the assessment year 1994-95. This issue was not adjudicated undisputedly by the CIT(A). Therefore, the Tribunal dismissed the same holding that the issue did not emanate from the CIT(A)'s order. The issues was remanded to the ITAT by the Hon'ble e High Court. The Hon'ble Madras High Court passed a judgment dated 8.6.2012 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... adras High Court: 16. Going by the said decision of the Apex Court, it is clear that unless there is a valid claim by the assessee and the depreciation allowed by the Assessing Authority in 1995- 96, the written down value for the assessment year 1994- 95 remains the written down value for 1995-96 also, and this has to be taken into consideration in working out the depreciation for assessment year 1996-97. 17. The assessee made an appeal before the Commissioner of Income-tax (Appeals) contending that written down value as on 1994-95 ought to have been taken into consideration for working out the relief for assessment year 1995-96. It is no doubt true that at the initial stage, the assessment worked out its relief based on what it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot agitated before the Tribunal cannot be upheld and hence, the same is set aside. As pointed out by the Apex Court, it is always open to the Tribunal to allow or not to allow a new ground to be raised before it and it is a matter of discretion to be judiciously executed. Thus, going by the law laid down in the aforesaid decision, we set aside this portion of the order of the Tribunal thereby remanding back the matter for fresh consideration alongwith other issue on depreciation. 8. From the above, it is the decision of the Hon'ble Madras High Court that the written down value relevant for the assessment year 1994-95 remains the written down value of the assessment year 1995- 96 if there is a valid claim in the valid return, and th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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