9911796707
TMI Blog2021 (9) TMI 63X X X X Extracts X X X X X X X X Extracts X X X X ..... IT DR ORDER PER KULDIP SINGH, JUDICIAL MEMBER : Appellant, M/s. Ardee Foundation (hereinafter referred to as 'the assessee') by filing the present appeal sought to set aside the impugned order dated 20.03.2017 passed by the Commissioner of Income-tax (Exemptions), New Delhi under section 263 of the Income-tax Act, 1961 (for short 'the Act') qua the assessment year 2012-13 on the grounds inter a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has not made any enquiry before allowing depreciation on assets to know whether the cost of such assets have been allowed as application on income in the past" is erroneous both factually and legally misconceived. 1.3 That the learned Commissioner of Income Tax has failed to appreciate that once the learned Assessing Officer on examination of the facts on record and after making all possible enq ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20.3.2017 be held to be without jurisdiction and, therefore be quashed and appeal of the appellant be allowed." 2. Briefly stated the facts necessary for adjudication of the controversy at hand are : Assessee society being registered under section 12A of the Act filed return declaring nil income which was subjected to scrutiny. Assessment was framed under section 143(3) of the Act by treating as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elow in the light of the facts and circumstances of the case. 5. Ld. AR for the assessee challenging the impugned order contended that the issue of claiming depreciation on assets being allowable as application of income has already been settled in favour of the assessee in view of the judgment rendered by Hon'ble Supreme Court in case of CIT vs. Rajasthan & Gujrat Charitable Foundation, Pune 402 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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