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2019 (6) TMI 606

..... Ld. DR. CIT(A) has given a direction to the AO to verify the facts and allow the depreciation, therefore, the Revenue should not have any grievance. In view of the finding given by the CIT(A) and in absence of any contrary material brought to our notice by the CIT(A) that assessee has claimed double deduction, we find no infirmity in the order of the CIT(A) directing the AO to delete the disallowance. Accordingly, the same is upheld and the ground raised by the Revenue is dismissed. - ITA No. 4284/Del/2016 - 10-6-2019 - Shri H.S. Sidhu, Judicial Member And Shri R.K. Panda, Accountant Member For the Assessee : Shri Anoop Sharma, Adv. For the Revenue : Shri Surender Pal. Sr. DR ORDER PER SHRI R K PANDA, A.M. This appeal filed by the Revenue i .....

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..... re the capital expenditure has been treated to have been applied for the object of the trust, allowance of deduction on account of depreciation will amount to double deduction. He noted that the assessee registered u/s 12A of the Act do not compute/offer their income under the head profit and gains of business or profession . Therefore, no question of allowance of depreciation u/s 32 of the Act arises in these cases. Relying on various decisions and CBDT clarification dated 03.01.2011 the AO disallowed depreciation of ₹ 1,14,59,837/-. 3.1 Before CIT(A) it was argued that AO is not justified in disallowing the depreciation as the assessee has not claimed any double deduction. It was argued that total depreciation claimed is ₹ 1,1 .....

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..... as been dismissed by the Hon ble Tribunal during the AY 2009-10 and accordingly the AO is directed to allow the depreciation. 4.3 I would like to place on record the appreciation that the assessee is at least following the ethical principle by not claiming double deductions first by claiming the capital investment as application of income and then claiming depreciation on the same capital assets on which the assessee had got the full deduction which is done by many of the other assessees and the same is being allowed by many of the Hon ble High Courts. 4.4 However, the AO is directed to verify the facts and allow the depreciation and as such the appeal of the assessee is allowed. 5. Aggrieved with such order of the Ld. CIT(A), the Revenue i .....

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