TMI Blog2022 (3) TMI 529X X X X Extracts X X X X X X X X Extracts X X X X ..... on, interest and administrative expenditure pertaining to Block-C on the ground that Department has accepted in assessment year 2013-14 that Block-C has been put to use . Once having accepted this position, the AO cannot change his opinion in immediate next assessment year without there being any change in facts and circumstances. We find no infirmity in the impugned order, hence, the same is upheld. - Decided against revenue. - ITA NO. 6776/MUM/2019 - - - Dated:- 10-3-2022 - SHRI G.S.PANNU,PRESIDENT SHRI VIKAS AWASTHY, JUDICIAL MEMBER Appellant by : Shri Vinod Tanwani Respondent by : Dr. K.Shivram, Sr. Advocate ORDER This appeal by the Revenue is directed against the order of Commissioner of Income Tax(Appeals ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in the business of development, operation and maintenance of Information Technology Park. The assessee developed an Industrial Park at Manesar, Haryana. The Industrial Park comprised of five commercial buildings/towers, out of which Block-C was ready to be leased out in preceding assessment year. The assessee had received Occupation Certificate in respect of the said tower on 17/03/2011. During the assessment year 2013-14 assessee had claimed interest expenditure, depreciation and administrative expenditure aggregating to ₹ 39,97,18,225/-. In assessment proceedings for assessment year 2013-14, the Assessing Officer held that since only Block-C was complete, interest expenditure and administrative expenditure attributable to Block-C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er has grossly erred in disallowing assessee s claim of depreciation ₹ 9,97,11,787/- and capitalizing interest expenses ₹ 20,05,29,277/-and administrative expenses ₹ 92,98,048/- on the ground that property was not leased out. 3.2 The ld.Counsel for the assessee submitted that once depreciation has been allowed in the immediate preceding assessment year after having accepted that the asset is ready to use , the Assessing Officer cannot change its stand without there being anything contrary on record. The ld.Counsel for the assessee asserted that the principle of consistency demands that without there being any change in the facts, the Assessing Officer cannot make disallowance deviating from its earlier stand. The ld.Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... administrative expenses and depreciation in respect of Block C, which was allegedly complete in all respect , but not actually put to use . However, depreciation is allowable only if the asset is put to use . The assessee has not been able to furnish any documentary evidence to show that any part of Block- C was leased out/put to use during the relevant period. The ld.Departmental Representative prayed for reversing the findings of CIT(A) and restoring the assessment order. 5. We have heard the submissions made by rival sides and have perused the orders of authorities bellow. The asessee s claim of depreciation, interest expenditure and administrative expenditure in respect of Block-C were disallowed by the Assessing Officer on the g ..... X X X X Extracts X X X X X X X X Extracts X X X X
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