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2020 (12) TMI 827 - HC - Income TaxDepreciation on dumpers - @30% or 15% - HELD THAT - Very same question of law as proposed in the present appeal was taken into consideration by a coordinate Bench of this Court in Durga Construction Company 2018 (5) TMI 1172 - GUJARAT HIGH COURT . All the appeals failed on the proposed question of law. In case on hand, it appears that the Assessing Officer granted depreciation on the dumpers at the rate of 15%. The assessee being dissatisfied, went in appeal before the Commissioner of Income Tax (Appeals)(for short CIT (A) ). The CIT(A) deleted the addition made on account of excess depreciation. The Revenue being dissatisfied with the order passed by the CIT(A) went in appeal before the Appellate Tribunal. The Appellate Tribunal has affirmed the order passed by the CIT(A). No substantial question of law.
Issues:
1. Interpretation of depreciation rates on dumpers under the Income Tax Act, 1961. Analysis: Issue 1: Interpretation of Depreciation Rates on Dumpers The High Court considered a Tax Appeal under Section 260A of the Income Tax Act, 1961, where the Revenue challenged the order of the Income Tax Appellate Tribunal regarding the rate of depreciation on dumpers for the Assessment Year 2011-12. The main question raised was whether the Appellate Tribunal erred in law by allowing a higher rate of depreciation at 30% on dumpers instead of the 15% allowed by the assessing officer. The Court noted that a similar question had been addressed by a coordinate Bench in a previous case where all appeals failed on the proposed question of law. In the present case, the Assessing Officer had initially granted depreciation at 15%, but the CIT(A) deleted the addition made on account of excess depreciation. The Revenue then appealed to the Appellate Tribunal, which upheld the CIT(A)'s decision. The Court, considering the previous decision and the facts of the current case, concluded that the proposed question of law was not substantial. Therefore, the appeal was dismissed. This judgment provides clarity on the interpretation of depreciation rates on dumpers under the Income Tax Act, emphasizing the importance of consistency in decisions and the requirement for a substantial question of law to be considered by the Court. The Court's analysis focused on the facts of the case, previous decisions, and the legal provisions relevant to depreciation rates, ensuring a comprehensive understanding of the issue at hand.
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