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TMI Blog2018 (3) TMI 1182X X X X Extracts X X X X X X X X Extracts X X X X ..... and circumstances of the case and in view of our verification of the relevant documents annexed with the paper book, are of the view that ₹ 61,71,821/- claimed by the assessee as “depreciation diminution written back” stands already offered to tax in the preceding years as and when provided. We, therefore, find no reason to interfere with the findings of the Commissioner of Income Tax - Decided against revenue - ITA No. 45/Ind/2017 - - - Dated:- 20-3-2018 - Shri Kul Bharat, Hon ble Judicial Member And Shri Manish Borad, Hon ble Accountant Member For The Appellant : Shri R.P. Mourya For The Respondent : Shri Hitesh Chimnani ORDER PER SHRI MANISH BORAD, AM This appeal of the revenue relating to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner of Income Tax (Appeals) and succeeded as the Commissioner of Income Tax (Appeals) observed that the impugned amount of ₹ 61,71,821/- has been offered to tax during assessment years 2007-08 to 2010-11 and also the amount of ₹ 1,00,000/- for assessment year 2010-11 has been offered to tax in the computation of income. 4. Aggrieved, the revenue is in appeal before the Tribunal against the alleged deletion of addition of ₹ 61,71,821/-. 5. The learned DR supported the order of the Assessing Officer and added that necessary documents were not produced by the assessee to prove that the impugned addition has been offered to tax in earlier years. On the other hand, the learned counsel for the assessee reiterating the su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome Tax Law. It was submitted that this has never been claimed by the appellant in the Income tax computation or in the audited balance sheet. It was also submitted that during the course of original assessment proceedings the appellant by mistake enclosed a provisional income tax computation form in which it had credited the depreciation diminution of investment written back as a planning exercise. It was further submitted that during the assessment proceedings when the mistake came to the notice of the appellant the appellant submitted the computation of total income based on the audited financial statements. The actual income tax computation form did not contain any amount credited or debited in the name of depreciation diminution of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... investment had been made of ₹ 46,35,092/- which had been added back by the appellant in its computation of income to the profit as per P L account at the time of filing the return for A.Y. 2009-10. 7.2 For the F.Y. 2007-08 provision for depreciation on investment had been made of ₹ 11,20,981/- which had been added back by the appellant in its computation of income to the profit as per P L account at the time of filing the return for A.Y. 2008-09. For F.Y. 2006-07 this provision for depreciation on investment had been made of ₹ 3,15,748/- which had been added back by the appellant in its computation of income to the profit as per P L account at the time of filing the return for A.Y. 2007-08. The provision made by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... admissible expenses. The relevant pages of computation of income as well as the income tax return form support the contention of the assessee. The learned DR failed to controvert any of these facts contended by the learned counsel for the assessee. We, therefore, in the given facts and circumstances of the case and in view of our verification of the relevant documents annexed with the paper book, are of the view that ₹ 61,71,821/- claimed by the assessee as depreciation diminution written back stands already offered to tax in the preceding years as and when provided. We, therefore, find no reason to interfere with the findings of the Commissioner of Income Tax (Appeals) and accordingly uphold the same. 8. In the result, the app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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