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TMI Blog2021 (9) TMI 681X X X X Extracts X X X X X X X X Extracts X X X X ..... resaid property has been allowed in earlier as well as subsequent assessment years. That being the case, we allow assessee s claim of depreciation. As regards repairs and maintenance expenses expenditure has been incurred in respect of the property at Dr. V.V. Gandhi Marg, Mumbai used for assessee s business. Thus, it is not in respect of the properties from which the assessee has offered rental income. Even, the rates and taxes are in respect of property other than the property from which assessee has offered rental income. Thus, in our view, the departmental authorities have disallowed the assessee s claim of deduction under misconception of facts - we are also of the view that the allegation of the departmental authorities that the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the normal provisions and book profit of ₹ 3,19,84,501/- under section 115JB of the Act. Against the assessment order so passed, the assessee went in appeal before learned Commissioner (Appeals) and thereafter before the Tribunal. Vide order 12.04.2017 in ITA No. 5959/Mum/2011, the Tribunal granted relief on some issues, whereas, some other issues were restored back to the AO for fresh adjudication. In pursuance to the directions of the Tribunal, the AO passed a fresh assessment order making certain additions/disallowances. Assailing the assessment order, assessee preferred appeal before learned Commissioner (Appeals). Learned Commissioner (Appeals) granted partial relief to the assessee by deleting the addition of ₹ 1,51, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the disallowance made should be sustained. 6. We have considered rival submissions and perused the materials on record. As regards the claim of depreciation is concerned, the departmental authorities have disallowed assessee s claim on the ground that the assessee can only be allowed the deductions from rental income as provided under the statute. However, on perusal of materials on record, we find that the property on which the assessee has claimed depreciation is different from the properties on which the assessee has received rental income. It is observed, the properties from which the assessee had declared rental income are situated at Ahmedabad and Coimbatore. Whereas, depreciation has been claimed in respect of a property at 3rd a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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