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2018 (3) TMI 952

issue to the file of the Ld.CIT(A) who shall consider the issue and decide afresh in accordance with law. - Erroneous directions given by the Ld.CIT(A) in respect of the payment made to employees on individual negotiations under separate scheme not forming part of Voluntary Retirement Scheme [“VRS”] - Reopening of assessment - Held that:- Assessment Order passed on 24.03.2014 u/s.143(3) r.w.s. 147 of the Act for the Assessment Year 2004-05, the Assessing Officer disallowed ₹.32,95,324/- being 1/5th of expenses of ₹.1,69,10,939/- claimed as deduction u/s. 35DDA of the Act and these expenses represent the payments made to the employees on their separation from the company and not forming part of VRS. Therefore, since the Asses .....

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eexamine it - Set-off of brought forward business losses - Held that:- We find that this ground is only a consequential in nature and the Assessing Officer shall pass appropriate orders based on the issues decided in the Assessment Years 2006-07 and 2007-08. If the assessee is eligible to carry forward the losses from the Assessment Year 2006-07 and 2007-08 the same may be considered and appropriate order may be passed in accordance with law for the Assessment Year 2008-09. - ITA NO.3815/MUM/2012 And ITA NO.5574/MUM/2014 - Dated:- 16-3-2018 - SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER For The Assessee : Shri K.K. Ved for The Revenue : Shri V. Vidhyadhar ORDER PER C.N. PRASAD (JM) 1. T .....

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e assessee that this ground becomes infructuous as the Assessing Officer has already reopened the assessment for Assessment Year 2004-05 u/s. 147 of the Act and disallowed such expenses and since the said expenses were already disallowed by reopening the assessment the directions are erroneous. 8. On hearing the rival contentions and on perusal of the record before us, we observe from the Assessment Order passed on 24.03.2014 u/s.143(3) r.w.s. 147 of the Act for the Assessment Year 2004-05, the Assessing Officer disallowed ₹.32,95,324/- being 1/5th of expenses of ₹.1,69,10,939/- claimed as deduction u/s. 35DDA of the Act and these expenses represent the payments made to the employees on their separation from the company and not .....

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ted that, the assessee could not produce the bills, vouchers as the assessee could not receive such bills, vouchers from its unit in Madras and ultimately the unit was closed. It was the submission that as there was no adverse remarks by the auditors in the Tax Audit Report the depreciation be allowed. 13. The Ld. DR strongly objected and submitted that in the absence of vouchers and bills, assessee did not prove that it had in fact purchased the assets and put to use and hence the depreciation was rightly denied by the Assessing Officer/Ld.CIT(A). 14. On hearing both the parties and pursing the orders of the authorities below, we are not inclined to accept the submissions of the Ld. Counsel for the assessee. The basic documents like Bills, .....

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ending that additional depreciation was computed u/s. 32(1)(iia) of the Act and it was attached to the Tax Audit Report as Annexure 1. It was contended that additional deprecation was claimed by the assessee while preparing and filing its return for the year. However, on account of an inadvertent error the additional depreciation was left out to be claimed in the statement showing computation of the total income. The submissions of the assessee were not appreciated by the Ld.CIT(A) and not entertained the claim observing that this issue does not arise from Assessment Order. In the case of CIT v. Pruthvi Brokers and Shareholders (P.) Ltd. (supra) the Hon'ble Jurisdictional High Court held that assessee is entitled to raise not merely add .....

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