9911796707
TMI Blog2021 (1) TMI 785X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 14th December, 2016 of the Ld. CIT(A)-44 New Delhi relating to assessment year 2011-12. 2. ITA No. 221/Del/2017 filed by the assessee is directed against the order dated 31st October, 2016 passed u/s 143(3) r.w.s. 144C(13)of the Act for the assessment year 2012-13. For the sake of convenience these were heard together and are being disposed of by this common order. ITA No.3825/Del/2017 (Asstt. Year 2011-12) (by assessee) ITA No. 221/Del/2017 (Asstt. Year 2012-13) (by assessee) 3. Ld. Counsel for the assessee filed an application seeking withdrawal of the above two appeals on the ground that assessee has opted for the Vivad Se Vishwas Scheme 2020 and has obtained Form, No. 3 under the provision of section 5(1) of the Vivad Se Vishw ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and clinical diagnostic division. It filed its return of income on 29.11.2012 declaring total income of Rs. 26,52,71,550/- as per normal provisions of the Income Tax Act, 1961 and book profit of Rs. 26,00,32,781/- u/s 115JB of the Act. During the course of assessment proceedings the AO noted from the depreciation table as per I.T. Chart filed with the return of income that the assessee company has claimed depreciation of Rs. 2,96,50,443/-on rented assets. He, therefore, asked the assessee to explain the justification for the same and asked the assessee to explain as to why the same should not be added to the total income by following the order of the preceding assessment years. It was submitted by the assessee that similar addition made du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the purpose of business" as was available in Section I0(2)(iv) of the 1. T Act, 1922 the IT A term which is used in Section 32 of the I T. Act, 1961 The Hon'ble Supreme Court has held that the said term means that the machinery & plant is used for the purpose of enabling the owner to carry on (he business and earn profit in the business. With this meaning in mind if the fads in the present case are seen, it is noticed that the assessee is in the business of trading in packed fruit juices. As per the assessee's product supply agreement entered into by the assessee with Dynctmix right from 18 th Feb 1999. it is noticed that Dynamix is to manufacture fruit juices as per the requirement of the assesses and it is to be packed in acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee as per the request of Dynamix has provided the machinery for the purpose of manufacturing the products under the Product Supply Agreement. A perusal of the agreement also shows that it is clearly understood that the machinery would belong to the assessee and not the Dynamix and Dynamix had no charge or claim over the machinery. Even the servicing, maintenance and spare parts of the machinery> was to he in done in the presence of the representative of the assessee even though the cost for the same was to be borne by Dynamix. Its has also been clearly understood between the parties that the Dynamix cannot use (he machinery/ provided by the assessee for the purpose other than manufacturing products as agreed upon in the Product Sup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year 2004-05 for deleting the disallowance of deprciatiion. As we have held that the decision of the Ld. CIT(A) to the issue in I.T.A. No. 482/Del/2009 is on a right footing the same finding would apply to this appeal also in ITA. No. 810/Del/2009." Following the decision of Hon'ble ITAT in appellant's own case cited supra and relying on the decision of my predecessor CIT(A) in earlaier assessment years in appellant's own case, I direct the AO to delete the addition as the facts are exactly similar. This ground of appeal is allowed." 9. Aggrieved with such order of the Ld. CIT(A) the revenue is in appeal before the Tribunal. 10. We have heard the rival arguments made by both the sides, perused the orders of the authorities below and th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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