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2011 (9) TMI 1113 - ITAT PUNE

2011 (9) TMI 1113 - ITAT PUNE - TMI - ITA No 692/PN/2010 - Dated:- 27-9-2011 - SHRI I C SUDHIR, JUDICIAL MEMBER AND SHRI G.S. PANNU, ACCOUNTANT MEMBER Appellant by: Shri B D Singh Respondent by: Shri Nikhil Pathak ORDER PER G.S. PANNU, AM This appeal by the Revenue is directed against the order of the Commissioner of Income-tax (Appeals)-III , Pune dated 26.02.2010, which in turn has arisen from an order passed by the Assessing Officer under sect ion 143(3) of the Income-tax Act , 1961 (in short .....

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learned Departmental Representative, appearing for the Revenue, has contended that the direction of the Commissioner of Income-tax (Appeals) has resulted in a double deduction to the assessee, which was contrary to the ratio of the decision of the Hon ble Supreme Court in the case of Escorts Ltd v. Union of India 199 ITR 43 (SC). 4. In brief, the facts are that the respondent-assessee is a trust which is running educational institutions and is registered under section 12A(a) of the Act with the .....

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59,44,712/- was disallowed. 5. In appeal before the Commissioner of Income-tax (Appeals), the assessee justified the claim, inter alia, by relying upon the judgment of the Hon ble Bombay High Court in the case of DIT(E) v Framjee Cawasjee Institute 109 CTR 463 (Bom). The Commissioner of Income-tax (Appeals) relying upon the aforesaid decision of the jurisdictional High Court allowed the claim of the assessee for depreciation. Against the aforesaid, Revenue is in appeal before us. 6. As noted ea .....

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of Banking 264 ITR 110 (Bom) wherein the issue was decided in favour of the assessee, following the earlier judgment in the case of Framjee Cawasjee Institute (supra). Moreover, the Pune Bench of the Tribunal in the case of ACIT v Shri Agmodharak Devardhi Jain Agam Mandit Trust vide ITA No 1526/PN/07 has followed the judgment of the Hon ble Bombay High Court in the case of Institute of Banking (supra) in upholding the stand similar to that of the assessee. 7. In this background, we have conside .....

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