TMI Blog2018 (8) TMI 924X X X X Extracts X X X X X X X X Extracts X X X X ..... of 2017, WMP No. 36759 of 2017 - - - Dated:- 9-8-2018 - K. Ravichandrabaabu, J. For the Petitioner : Mr. M. P. Senthilkumar For the Respondents : Mrs. Hema Muralikrishnan Senior Standing Counsel (IT) ORDER The petitioner is a public charitable trust and an assessee under the first respondent. The present Writ Petition is filed challenging the order of the first respondent dated 11.12.2017 preceded by a notice issued under section 148 of the Income Tax Act dated 24.03.2017. Through the impugned proceedings, the first respondent reopened the assessment under section 147 of the said Act in respect of the Assessment Year 2010-11 only on the reason that the depreciation to the extent of ₹ 6,74,60,921/- claimed and allo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ought a copy of the reasons recorded by the first respondent to be furnished to them. Accordingly, by communication dated 03.7.2017, the first respondent communicated the reason stating that the depreciation as claimed and allowed in the assessment order dated 30.1.2013 is not in consonance with the decision of the Hon'ble Supreme Court in the case of Escorts Limited Vs. Union of India [reported in 189 ITR 44], which was followed by the High Court of Kerala in the case of M/s.Lissie Medical Institutions Vs. CIT [reported in 76 DTR (Kerala) 372] and the clarification given by the Central Board of Direct Taxes before the High Court in the said case. Therefore, the respondent stated that he has reason to believe that excess depreciation al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this Court relied upon by the petitioner assessee has not become final, as the Department has filed a special leave petition before the Hon'ble Supreme Court in the case of CIT Vs. Bangalore Baptist Hospital Society arising out of a judgment of the Karnataka High Court and the Hon'ble Supreme Court has admitted the special leave petition. 6. If that be the case, the question would be as to whether the first respondent was justified in reopening the assessment by relying upon those two decisions, when the jurisdictional High Court in the case of M/s.Medical Trust of the Seventh Day Adventists has taken a different view, which would bind the first respondent. That apart, this Court finds from the return of income filed by the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to get instructions and file counter. List on 12.2.2018. Thereafter, the matter is listed today for further hearing. 3. Today, learned counsel appearing for the petitioner as well as the learned Senior Standing counsel appearing for the respondents submitted that the issue involved in this case is covered in favour of the petitioner in view of the subsequent decision made by the Hon'ble Supreme Court in Commissioner of Income Tax vs. Rajasthan and Gujarati Foundation reported in (2018) 300 CTR Reports (SC) 1. 4.Perusal of the said judgment would show that the Apex Court, has in fact, overruled M/s.Lissie Medical Institutions decision rendered by the High Court of Kerala at Ernakulam by categorically observing that depreciati ..... X X X X Extracts X X X X X X X X Extracts X X X X
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