2019 (2) TMI 893

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..... hen assessee has not justified "business expediency" and failed to provide necessary details regarding business purpose behind investing money in sister concerns. (ii) Whether on the facts and circumstances CIT(A) was right in allowing depreciation without filing revised return by the assessee which has rightly been disallowed by the AO. (iii) The Appellant craves leave to add or amend the grounds of appeal on or before is heard and disposed off." 3. As regards to the first issue raised vide ground no. (i), the ld. Counsel for the assessee at the very outset stated that this issue is squarely covered by the judgment of the Hon'ble Jurisdictional High Court in assessee's own case for the assessment year 2010-11 in ITA No. 94/2017, order .....

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..... by the Hon'ble Jurisdictional High Court in favour of the assessee. 7. Vide ground no. (ii), the grievance of the department relates to the depreciation in respect of copier unit and paper unit. 8. The facts related to this issue in brief are that the AO disallowed the claim of depreciation of the assessee by observing that the assessee had made the claim for deduction of depreciation without filing the revised return. 9. Being aggrieved the assessee carried the matter to the ld. CIT(A) and submitted that it had omitted the claim of certain documents of the copier unit and paper unit but the said claim was admissible because no new claim was made by the assessee who had filed the details in its tax audit report under form 3CB of the dep .....

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..... aterial was available on the record in tax audit report. Therefore, the ld. CIT(A) was fully justified in allowing the claim after following the judgment of the Hon'ble Jurisdictional High Court in the case of CIT Vs Ramco International (supra). 12. We have considered the submissions of both the parties and carefully gone through the material available on the record. In the present case, it is an admitted fact that the assessee inadvertently could not claim the depreciation in computation of income. However, that claim was made in the tax audit report attached with the income tax return which was available on the record. Therefore, the ld. CIT(A) rightly directed the AO to allow the depreciation claimed by the assessee by following the ju .....

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