TMI Blog2021 (3) TMI 393X X X X Extracts X X X X X X X X Extracts X X X X ..... of their acquisition - HELD THAT:- Issue with regard to grant of depreciation should be remanded to the AO for fresh consideration. Admittedly, the assessee did not have proper opportunity of being heard before the CIT(A). The Assessee has given the list of fixed assets on which depreciation was claimed by the assessee detailing as to how the value of fixed assets were not claimed as application of income in the year of acquisition. This has not been considered either by the AO or by the CIT(A). Since the matter requires verification by the AO, we deem it fit and proper to set aside the issue to the AO for fresh consideration in the light of the observations made above and the evidence already on record with liberty to the Assessee to pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... depreciation on those assets would amount to allowing double deduction which is not permissible u/s.11(6) of the Act. Section 11(6) reads as follows: (6) In this section where any income is required to be applied or accumulated or set apart for application, then, for such purposes the income shall be determined without any deduction or allowance by way of depreciation or otherwise in respect of any asset, acquisition of which has been claimed as an application of income under this section in the same or any other previous year. 4. Before CIT(A), the assessee submitted that even before the AO, sufficient evidence was laid to show that the assets on which depreciation was claimed by the assessee, the cost of acquisition of those ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e year of their acquisition. 5. Aggrieved by the order of the CIT(A), assessee is in appeal before the Tribunal. After hearing the rival submissions, I am of the view that the issue with regard to grant of depreciation should be remanded to the AO for fresh consideration. Admittedly, the assessee did not have proper opportunity of being heard before the CIT(A). The Assessee has given the list of fixed assets on which depreciation was claimed by the assessee and the chart at pages 84 and 85 of the Paper Book together with page 86 of the Paper Book detailing as to how the value of fixed assets were not claimed as application of income in the year of acquisition. This has not been considered either by the AO or by the CIT(A). Since the matt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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