ACIT, Karnal v. Market Committee, Karnal

ITA 444/DEL/2011 | 2003-2004
Pronouncement Date: 29-03-2011 | Result: Dismissed

Appeal Details

RSA Number 44420114 RSA 2011
Assessee PAN AAALM0414E
Bench Delhi
Appeal Number ITA 444/DEL/2011
Duration Of Justice 2 month(s) 3 day(s)
Appellant ACIT, Karnal
Respondent Market Committee, Karnal
Appeal Type Income Tax Appeal
Pronouncement Date 29-03-2011
Appeal Filed By Department
Order Result Dismissed
Bench Allotted E
Tribunal Order Date 29-03-2011
Date Of Final Hearing 29-03-2011
Next Hearing Date 29-03-2011
Assessment Year 2003-2004
Appeal Filed On 25-01-2011
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH E : NEW DELHI) BEFORE SHRI RAJPAL YADAV JUDICIAL MEMBER AND SHRI B.C. MEENA ACCOUNTANT MEMBER ITA NOS.441 & 444/DEL./2011 (ASSESSMENT YEARS : 2007-08 & 2003-04) ACIT KARNAL CIRCLE VS. MARKET COMMITTEE KARNAL. KARNAL. (PAN : AAALM0414E) ITA NOS.442 & 443/DEL./2011 (ASSESSMENT YEARS : 2007-08 & 2003-04) ACIT KARNAL CIRCLE VS. MARKET COMMITTEE KARNAL. INDRI. (PAN : AAALM0085M) (APPELLANT) (RESPONDENT) ASSESSEE BY : NONE REVENUE BY : SHRI PEEYUSH SONKAR SENIOR DR ORDER PER BENCH : THESE APPEALS FILED BY THE REVENUE ARISE OUT OF THE ORDER OF CIT (APPEALS) KARNAL DATED 26.11.2010. THE GROUNDS OF APPEAL TAKEN BY THE REVENUE ARE AS UNDER :- ITA NO.441 TO 444/DEL./2011 2 1. THE LD. CIT (A) HAS ERRED IN LAW AND ON THE FAC TS AND CIRCUMSTANCES OF THE CASE IN DIRECTING THAT DEPRECI ATION IS ALLOWABLE IN PRINCIPLES SUBJECT TO FURNISHING OF RE QUISITE PARTICULARS IGNORING THE FACT THAT CAPITAL EXPENDIT URE RELATING TO ACQUISITION OF SUCH ASSETS HAD ALREADY BEEN ALLOWED AS APPLICATION OF INCOME FOR THE PURPOSE OF ALLOWING E XEMPTION U/S 11 OF THE I.T. ACT AND FURTHER ALLOWING OF DEPR ECIATION ON THESE CAPITAL ASSETS WILL AMOUNT TO DOUBLE DEDUCTIO N FOR THE SAME EXPENDITURE. 2. THE APPELLANT CRAVES LEAVE TO ADD OR AMEND THE G ROUNDS OF APPEAL BEFORE THE APPEAL IS HEARD OR DISPOSED OF F. 2. THE ONLY ISSUE IN ALL THESE APPEALS IS AGAINST A LLOWING THE DEPRECIATION IN PRINCIPLE SUBJECT TO FURNISHING OF REQUISITE PAR TICULARS. THE REVENUE CLAIMED THAT THE CAPITAL EXPENDITURE RELATED TO THE ACQUISITION OF SUCH ASSETS HAD ALREADY BEEN ALLOWED AS APPLICATION OF INCOME F OR THE PURPOSE OF ALLOWING EXEMPTION U/S 11OF THE INCOME-TAX ACT THE REFORE FURTHER ALLOWING OF DEPRECIATION ON THESE CAPITAL ASSETS WILL AMOUNT TO DOUBLE DEDUCTION FOR THE SAME EXPENDITURE. 3. WE HAVE HEARD THE LEARNED DR. NONE ATTENDED ON BEHALF OF THE ASSESSEE. 4. AFTER HEARING THE LEARNED DR WE FIND THAT THIS ISSUE HAS BEEN DECIDED IN FAVOUR OF THE ASSESSEE BY THE HON'BLE JURISDICTI ONAL PUNJAB & HARYANA HIGH COURT IN THE CASE OF CIT KARNAL VS. MARKET COMMITT EE PIPLI IN ITA NO.535/2009 DATED 5.7.2010. WE ALSO FIND THAT THE CIT (A) HAS GRANTED THE ITA NO.441 TO 444/DEL./2011 3 RELIEF BY FOLLOWING THE DECISION OF ITAT BENCHES AN D THERE ARE NUMBER OF DECISIONS OF ITAT DELHI BENCHES WHERE THE DEPRECIAT ION HAS BEEN HELD TO BE ALLOWABLE. IN VIEW OF THIS FACT WE SUSTAIN THE OR DER OF CIT (A) ON THIS ISSUE AND DISMISS THE GROUND. 5. IN THE RESULT ALL THE FOUR APPEALS FILED BY THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON THIS 29 TH DAY OF MARCH 2011 AFTER THE CONCLUSION OF THE HEARING. SD/- SD/- (RAJPAL YADAV) (B.C. MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED THE 29 TH DAY OF MARCH 2011/TS COPY FORWARDED TO: 1.APPELLANT 2.RESPONDENT 3.CIT 4.CIT (A) KARNAL. 5.CIT(ITAT) NEW DELHI. AR ITAT NEW DELHI.