M/s Extrol Educetion Society, v. The DCIT 2 (1),

ITA 67/IND/2009 | 2001-2002
Pronouncement Date: 04-05-2010 | Result: Partly Allowed

Appeal Details

RSA Number 6722714 RSA 2009
Bench Indore
Appeal Number ITA 67/IND/2009
Duration Of Justice 1 year(s) 2 month(s) 15 day(s)
Appellant M/s Extrol Educetion Society,
Respondent The DCIT 2 (1),
Appeal Type Income Tax Appeal
Pronouncement Date 04-05-2010
Appeal Filed By Assessee
Order Result Partly Allowed
Bench Allotted DB
Tribunal Order Date 04-05-2010
Date Of Final Hearing 26-04-2010
Next Hearing Date 26-04-2010
Assessment Year 2001-2002
Appeal Filed On 18-02-2009
Judgment Text
PAGE 1 OF 3 - I.T.A.NO. 67/IND/2009 EXTROL EDUCATION SOCIETY BHOPAL IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH : INDORE BEFORE SHRI JOGINDER SINGH JUDICIAL MEMBER AND SHRI V.K. GUPTA ACCOUNTANT MEMBER PAN NO. : AABCE-3826C I.T.A.NO.67/IND/2009 A.Y. : 2001-02 M/S.EXTROL EDUCATION SOCIETY DCIT EXTROL TOWER VS 2(1) JEHANGIRABAD BHOPAL. BHOPAL APPELLANT RESPONDENT APPELLANT BY : SHRI H.P.VERMA AND SHRI ASHISH GOYAL ADV. RESPONDENT BY : SMT.APARNA KARAN SR. DR DATE OF HEARING : 26.04.2010 O R D E R PER V.K. GUPTA A.M. THIS APPEAL FILED BY THE ASSESSEE ARISES OUT OF ORD ER OF THE LD. CIT(A)-I BHOPAL DATED 16.11.2008 FOR THE ASSESSM ENT YEAR 2001-02. 2. WE HAVE HEARD BOTH THE PARTIES AND HAVE ALSO PERUSE D THE MATERIAL AVAILABLE ON RECORD. 3. THERE IS A DELAY OF TWO DAYS IN FILING OF THE APPEA L WHICH OCCURRED DUE TO INADVERTENT MISTAKE ON THE PART OF THE LEARNED COUNSEL FOR THE ASSESSEE AS EXPLAINED BY HIM IN THE COURSE OF H EARING AND WE ARE PAGE 2 OF 3 - I.T.A.NO. 67/IND/2009 EXTROL EDUCATION SOCIETY BHOPAL SATISFIED WITH SUCH EXPLANATION. HENCE WE CONDONE THIS DELAY AND ADMIT THIS APPEAL FOR ADJUDICATION. 4. GROUND NOS. 1 TO 4 RELATING TO LEGAL ISSUES WERE NO T PRESSED HENCE DISMISSED AS NOT PRESSED. 5. IN GROUND NO.5 THE ISSUE INVOLVED IS REGARDING ALL OWABILITY OF DEPRECATION OF RS. 28 71 877/- WHICH WAS STATED TO BE COVERED IN FAVOUR OF THE ASSESSEE BY A DECISION OF THE BENCH IN THE C ASE OF SHRI SATYA SAI TRUST IN I.T.A.NO. 05/IND/2009 DATED 23 RD APRIL 2010. THE TRIBUNAL IN THE SAME SET OF FACTS IN THAT APPEAL HELD AS UNDER :- 6. WE FIND THAT THE TRIBUNAL IN THE AFORESAID DECISION S RELIED ON BY THE ASSESSEE AS AFTER CONSIDERING THE DECISION OF THE HON'BLE SUPREME COURT IN THE CASE OF ESCORTS LIMITED (SUPRA) HAS H ELD THAT THE ASSESSEE WAS ELIGIBLE FOR ALLOWANCE OF CLAIM OF DEPRECIATION SO AS TO COMPUTE PROPER INCOME OF THE CHARITABLE TRUST. THE FINDINGS OF THE TRIBUNAL IN THE SAID CASE ARE REPRODUCED AS UNDER FOR THE SAKE OF R EADY REFERENCE. 8. WE FIND THAT THE TRIBUNAL IN THE AFORESAID DECI SIONS RELIED ON BY THE ASSESSEE AS AFTER CONSIDERING THE DECISION OF THE HON'BLE SUPREME COURT IN THE CASE O F ESCORTS LIMITED VS. UNION OF INDIA AS REPORTED IN 1 99 ITR 43 HAS HELD THAT THE ASSESSEE WAS ELIGIBLE FOR PAGE 3 OF 3 - I.T.A.NO. 67/IND/2009 EXTROL EDUCATION SOCIETY BHOPAL ALLOWANCE OF CLAIM OF DEPRECIATION SO AS TO COMPUTE PROPER INCOME OF THE CHARITABLE TRUST. HENCE RESPECTFULLY FOLLOWING THE SAME WE ALLOW BOTH THES E GROUNDS OF THE ASSESSEE. 7. RESPECTFULLY FOLLOWING THE SAME WE ALLOW THIS CLAI M OF THE ASSESSEE. THUS THIS GROUND OF THE ASSESSEE IS ALLO WED. 8. IN RESPECT OF ISSUE RAISED IN GROUND NO.6 THE LEA RNED COUNSEL SUBMITTED THAT THE LD. CIT(A) DID NOT GIVE ANY FIND ING TO WHICH THE LD. SR. DR ALSO AGREED. HENCE WE RESTORE THIS ISSUE TO THE FILE OF THE LD. CIT(A) TO ADJUDICATE THE SAME AFRESH AS PER LAW AFT ER GIVING DUE OPPORTUNITY OF HEARING TO THE ASSESSEE. THUS THIS GROUND OF THE ASSESSEE STANDS ALLOWED FOR STATISTICAL PURPOSES. 9. IN THE RESULT THE APPEAL FILED BY THE ASSESSEE STA NDS PARTLY ALLOWED THIS ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 4 TH MAY 2010. SD/- SD/- (JOGINDER SINGH) (V. K. GUPTA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 4 TH MAY 2010. CPU* 26284