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TMI Blog2015 (1) TMI 565X X X X Extracts X X X X X X X X Extracts X X X X ..... , deserves dismissal. - Decided in favour of assessee. - TAX APPEAL NO. 1069 of 2006 - - - Dated:- 19-12-2014 - MR. KS JHAVERI AND MR. K.J.THAKER, JJ FOR THE APPELLANT : MR KM PARIKH, ADVOCATE FOR THE RESPONDENT : MR SN DIVATIA, ADVOCATE JUDGEMENT Per: K S Jhaveri: 1. This is an appeal by the appellant-Revenue, seeking to challenge the order of the learned ITAT, Ahmedabad Bench 'A' (for short, 'the Tribunal'), Dated: 28.10.2005, rendered in Tax Appeal No. 3464/Ahd/2002 for A.Y. 1996-97, whereby, the Tribunal dismissed the aforesaid appeal filed by the Revenue. 2. The brief facts of the case are that the assessee-respondent, herein, filed its return of income for the year under consideration on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he bogus depreciation under Bock Assessment proceedings u/s. 158BC of the I.T. Act? 4. Mr. Parikh, learned Advocate for the appellant-Revenue, submitted that the Tribunal erred in law and on facts in holding that the assessee may be allowed to carry forward the unabsorbed depreciation and business losses as claimed in the revised return of income. He, further, submitted that the CIT(A) as well as the Tribunal ought to have appreciated the fact that the assessee claimed depreciation on bogus assets during different years. He, then, submitted that the Tribunal erred in deciding the issue of unabsorbed depreciation and loss that the unabsorbed depreciation determined in earlier years cannot be changed during A.Y. 1996-97. He, therefore, pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed AO disallowed the claim of the assessee towards unabsorbed depreciation, which was carried forward from earlier years, on the ground of findings recorded in the Block Assessment of the assessee. It is a known position of law that the assessment proceedings carried out under Section 143(3) of the Act and the Block Assessment are separate and distinct proceedings and that one does not affect the other. Though, the concerned AO disallowed the claim of the assessee in respect of carried forward unabsorbed depreciation on the basis of the findings recorded in the Block Assessment in the case of very assessee, the AO does not specify or narrate as to what were those findings. From the record it also appears that the depreciation brought forwar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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