2021 (5) TMI 628

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..... ARISHI, AM : 01. This appeal is filed by assessee against the order of the CIT (Appeals)-34, New Delhi, dated 29.12.2017 for assessment year 2012-13. 02. The solitary ground in this appeal is whether the ld. CIT (Appeals) was justified in upholding the action of the ld. Assessing Officer in allowing depreciation on mobile phones @ 15% instead of @ 60% claimed by the assessee following the decisi .....

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..... on 28.01.2021 nobody appeared and for today's hearing the Bench issued notice of hearing by RPAD. Even then there is no compliance by the assessee. Therefore, the issue is decided on the merits of the case. 05. The learned DR submitted that issue is squarely covered against the assessee by the solitary decision of the Hon'ble Kerala High Court in the case of Federal Bank Ltd. Vs. ACIT 20 taxmann .....

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..... n on plant and machinery @ 15%. This being the solitary decision on the issue and is binding on us, respectfully following that we uphold that depreciation on mobile phones is allowable @ 15% and not @ 60%. However, we may note that there are smart phones which do function equivalent to the computers or much more than a computer, if the functionality of a mobile phone are shown to be more than a .....

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