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TMI Blog2015 (12) TMI 1230X X X X Extracts X X X X X X X X Extracts X X X X ..... e has raised the following grounds of appeal : "1) That in the fact and circumstances of the case, Ld. CIT(A) has erred in holding that assessee is entitled to get the benefit of depreciation on Building and Plant & Machinery while the mere fact is that after selling off a portion of the property WDV of the block of assets of Building and Plant & Machinery had not been adjusted as provided in the sub clause (ii) read with (i)(B) of clause (c) of sub section (6) of section 43 of the I.T. Act, 1961." 2) That in the facts and circumstances of the case, Ld, CIT(A) had erred in deleting addition on account of gratuity payment without showing in specific reason". First Issue 2. Ground raised by Revenue is that Ld. CIT(A) has erred in deleti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d excessive depreciation on the closing WDV of the block of assets as the effect of the consideration received on transfer was not reduced from the respective block of assets in the books of accounts. Accordingly the AO disallowed the excessive depreciation claimed by the assessee by working out the depreciation on the sale value of the assets. The composite sale value of the assets was Rs. 2,17,59,000/- for the commercial space and plant and machinery. The AO divided the sale price of Rs. 21,75,89,000/- being composite price of commercial space and plant & Machinery in the ratio of 1.76:1. The AO treated the value of Rs. 1,38,75,305/- sale of the building and balance 78,83,695/- treated sale of plant & machinery. The AO accordingly reduced ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he relevant FY itself and the profit thereon was declared as short term capital gain. Hence this commercial space never formed part of the fixed assets and therefore its effects had not been given in the schedule of fixed assets. 6. The Ld. CIT(A) agreed with the contention of the assessee and deleted the disallowance of depreciation made by the AO. In doing so, the Ld. CIT(A) followed the submission of the order of this Tribunal in assessee's own case in ITA No.1392/Kol//2008 dated 03-04-2009 on an identical the issue decided in favour of assessee. 7. Aggrieved, by the order of Ld. CIT(A) Revenue is in appeal before the Tribunal. Shri Sanjit Kr. Das, Ld. Departmental Representative appearing on behalf of Revenue and Shri D.S. Damle, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evidence that the sale consideration includes the sale of plant and machinery and the assessee has already reduced the value of sale consideration from the W.D.V. of the building, we do not find any infirmity in the order of the CIT(A). The same is sustained and ground nos. 2 and 3 of Revenue's appeal are rejected." The facts in the previous year are identical to the facts as it provided in the assessee's case as decided by the ITAT. Respectfully following the order of the Tribunal in assessee's own case, we are inclined not to interfere with the order of Ld. CIT(A). Accordingly, the relevant ground raised by Revenue is dismissed. Second Issue 10. The next issue raised by the Revenue is that Ld. CIT(A) has erred in deleting ..... X X X X Extracts X X X X X X X X Extracts X X X X
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