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TMI Blog2023 (3) TMI 775X X X X Extracts X X X X X X X X Extracts X X X X ..... is also silent on this aspect. Considering the above said fact, remit the matter back to the file of the AO to examine whether the assessee has claimed any exemption on cost of purchase of the asset, If the assessee has not claimed any exemption, then the assessee is entitled for depreciation. AO is directed to give opportunity of being heard to the assessee. - I.T.A.No.232/Viz/2022 - - - Dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f 178 days after taking into account the extension granted by the Hon ble Supreme Court vide orders dated 23.03.2020, 27.04.2021, 23.09.2022 and 10.01.2022 in SMW(A) No.3 of 2020. The Ld.AR submitted that there was delay in filing the appeal as the President of the Trust, Sri D.Govinda Rao underwent treatment for severe skin infection at Visakhapatnam and Kerala and also filed medical record befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 691/-. The assessee filed an application for rectification u/s 154 of the Act. The CPC, Bengaluru rejected the application u/s 154 of the Act vide order dated 07.06.2019. 3. Aggrieved by the order of the AO, the assessee preferred appeal before the CIT(A) and the Ld. CIT(A) dismissed the appeal of the assessee. 4. Aggrieved by the order of the Ld.CIT(A), the assessee preferred appeal before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mitted that the assessee, being a charitable organization, the depreciation claimed by the assessee in the return of income is allowable. The adjustment made by the assessing authority s order u/s 143(1) was not correct and not in accordance with law because the assessee never claimed any exemption on cost of purchase of asset. He, therefore, prayed for depreciation. 7. Per contra, the Ld.DR su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to examine whether the assessee has claimed any exemption on cost of purchase of the asset, If the assessee has not claimed any exemption, then the assessee is entitled for depreciation. AO is directed to give opportunity of being heard to the assessee. 9. In the result, appeal of the assessee is allowed for statistical purpose . Order pronounced in the open court on 16th March, 2023. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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