Case Law Details
Bio-Rad Laboratories (India) (P) Ltd. Vs. DCIT (ITAT Delhi)
We find the AO in the instant case disallowed the depreciation of Rs.2,96,50,443/- on the ground that the assessee company is not using the assets for self use and the assets were hired out for a fixed period and the agreements provided that on payment on all instalments the title of the assets passes on to the hirer. We find the Ld. CIT(A) deleted the disallowance made by the AO, the reasons of which have already been reproduced in the preceding paragraph. A perusal of the order of the Ld. CIT(A) shows that while deleting the disallowance he has followed the decision of the Tribunal in assessee’s own case in the preceding assessment year. Since the AO while disallowing the depreciation has followed the order of his predecessor and disallowed the depreciation holding that the order of the Ld. CIT(A) deleting the disallowance has been challenged by the revenue before the Tribunal and since the Tribunal has already deleted such disallowance, therefore we do not find any infirmity in the order of the Ld. CIT(A) deleting such disallowance of depreciation. Ld. DR could not point out any distinguishing features so as to take a contrary view from the view taken by the Ld. CIT(A) on this issue. Accordingly the ground raised by the revenue is dismissed.
FULL TEXT OF THE ITAT JUDGEMENT
ITA No. 3825/Del/2017 and ITA No. 4698/Del/2017 are cross appeals and are directed against the order dated 14th December, 2016 of the Ld. CIT(A)-44 New Delhi relating to assessment year 2011-12.
2. ITA No. 221/Del/2017 filed by the assessee is directed against the order dated 31st October, 2016 passed u/s 143(3) r.w.s. 144C(13)of the Act for the assessment year 2012-13. For the sake of convenience these were heard together and are being disposed of by this common order.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
