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INCOME-TAX OFFICER (E) Versus OUR LADY OF MILAGRES CHURCH

2015 (11) TMI 849 - ITAT BANGALORE

Claim of depreciation on the assets, cost of which was allowed as a part of utilisation - assessee is a trust registered under section 12A - Held that:- Issue of the assessee's claim for depreciation on addition to assets acquired in the relevant period is to be allowed even if the entire cost of the same assets have been claimed by the assessee and allowed as application of its income for charitable purposes, since this issue has been held in favour of the assessee in a number of decisions of t .....

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None for the respondent. ORDER The order of the Bench was delivered by 1. Abraham P. George (Accountant Member).-In this appeal filed by the Revenue, it is aggrieved that the Commissioner of Income-tax (Appeals), Mysuru, vide his order dated November 13, 2014, allowed the claim of depreciation on the assets, cost of which was allowed as a part of utilisation. 2. The assessee, a trust registered under section 12A of the Income-tax Act, 1961 (in short "the Act"), had claimed depreciation .....

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peals) accepted the contention of the assessee by relying on the decisions of the Tribunal in the abovementioned case as well as in the case of Dr. T. M. A. Pai Foundation (I. T. A. Nos. 486 to 491/Bang/2009, dated February 16, 2010) which went in favour of the assessee. As per the Commissioner of Income-tax (Appeals), this Tribunal had distinguished the decision of the hon'ble Kerala High Court in the case of Lissie Medical Institutions v. CIT [2012] 348 ITR 344 (Ker), in the latter decisio .....

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partmental representative. The issue whether depreciation should be allowed on assets cost of which was allowed as a part of utilisation while computing the income of an assessee registered under section 12A of the Act, had come up before this Tribunal in the case of Asst. CIT v. Medical Relief Society of South Canara I. T. A. No. 1713/Bang/2013, dated December 10, 2014 [2015] 5 ITR (Trib)-OL 74 (Bang). This Tribunal, inter alia, relying on the decision of this Tribunal in the case of Dr. T. M. .....

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on of income. Ground No. 2 : The learned Commissioner of Income-tax (Appeals) erred by allowing the claim of depreciation on capital assets acquired during the year as it tantamount to double deduction. Ground No. 3 : The learned Commissioner of Income-tax (Appeals) ought to have considered the decision of the hon'ble High Court of Kerala in the case of Lissie Medical Institutions v. CIT (I. T. A. No. 42 of 2011) [2012] 348 ITR 344 (Ker). Depreciation 7. In the grounds raised above, the Reve .....

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lted in allowing double deduction to the assessee, which is not admissible in law as per the ratio laid down by the hon'ble apex court in the case of Escorts Ltd. v. Union of India reported in [1993] 199 ITR 43 (SC). It was also contended by the learned authorised representative that the learned Commissioner of Income-tax (Appeals) erred in not following the decision of the hon'ble Kerala High Court in the case of Lissie Medical Institutions v. CIT in (I. T. A. No. 42 of 2011) [2012] 348 .....

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n addition to assets during the relevant period, the learned Commissioner of Income-tax (Appeals) followed the decision of the co-ordinate Bench of this Tribunal in the case of one of the assessee's group trusts, i.e., Dr. T. M. A. Pai Foundation in I. T. A. Nos. 486 to 491 (Bang)/2009 dated February 16, 2010 for the assessment years 2001- 02 to 2006-07. It was further submitted by the learned authorised representative that the decision of the hon'ble Kerala High Court in the case of Lis .....

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ld the very same issue, of the allowability of depreciation on addition to assets during the relevant period, in favour of the assessee in I. T. A. No. 1140/Bang/2013 dated March 21, 2014. The learned authorised representative submitted that, in view of the favourable decisions of the hon'ble courts and of the co-ordinate Bench of this jurisdictional Tribunal referred to and placed reliance upon, the Revenue's appeal is liable to be dismissed. 9. We have heard both parties and perused an .....

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