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TMI Blog2024 (8) TMI 1174X X X X Extracts X X X X X X X X Extracts X X X X ..... partitions and change of flooring, etc. and expects life of the said items from 1 to 5 years HELD THAT:- ACIT did not dispute the original scrutiny assessment proceedings and the method of write-off and claiming by way of depreciation. Admittedly, there is no dispute with regard to leased premises by the assessee as it is clear from the order of the AO and the CIT(A). Thus, following the decision of AMRUTANJAN FINANCE LIMITED [ 2011 (8) TMI 320 - MADRAS HIGH COURT] taking into account of facts and circumstances of the case, we find that the claim of depreciation as allowed by the Assessing Officer in the original scrutiny proceedings, are justified. Thus, the order of the ld. CIT(A) is quashed and the ground raised by the assessee is allowe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sis for 3 5 years. The assessee improves the said leased premises by interior decoration like false-ceiling, racks, electrical light fittings, paining, partitions and change of flooring, etc. and expects life of the said items from 1 to 5 years and accordingly writing off the total expenditure at 20% ascertaining the life of expenditure incurred between 3 5 years. Further, he submits that the said items of interior decoration cannot be removed and it does not fetch any value. He vehemently argued that the assessee is following the same method of write-off of 20% in the earlier years as well as the year under consideration. He submits that the Assessing Officer, in the year under consideration as well as in the earlier years, the same method ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income Tax Act, the second question of law raised also merits consideration. Hence, the substantial questions of law raised in the Tax Case Appeal read as under:- (i) Whether in the facts and circumstances of the case, the Tribunal was right in allowing 100% depreciation on partitions and structures even though the assessee had not been in a position to establish that the same were temporary in nature? (ii) Whether in the facts and circumstances of the case, the Tribunal was right in remitting the issue of admissibility of deduction of non performing assets and diminution in the value of investments back to the officer when such a claim of deduction is not contemplated under the provisions of the Income Tax Act? 2. Both the counsel sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arguments of the ld. AR that the method adopted by the assessee in writing off the expenditure incurred therein basing on the life expectancy of items i.e., 3-5 years. It is also brought to our notice that the Respondent Revenue was accepting the same in the earlier years. 6. The ld. DR Ms. R. Anita, Addl. CIT did not dispute the original scrutiny assessment proceedings and the method of write-off and claiming by way of depreciation. Admittedly, there is no dispute with regard to leased premises by the assessee as it is clear from the order of the Assessing Officer and the ld. CIT(A). Thus, following the decision of the Hon ble Madras High Court, taking into account of facts and circumstances of the case, we find that the claim of depreciat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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