Case Law Details
ACIT Vs Skyscape Developers Pvt.Ltd. (ITAT Mumbai)
The asessee’s claim of depreciation, interest expenditure and administrative expenditure in respect of Block-C were disallowed by the Assessing Officer on the ground that the asset was not “put to use”. We find that in assessment year 2013-14 the Assessing Officer had accepted the contention of assessee that Block-C is complete and allowed assessee’s claim of depreciation, administrative and interest expenditure qua Block-C. In respect of the remaining project the administrative and interest expenditure was allowed to be capitalized. The CIT(A) in the impugned assessment year allowed assessee’s claim in respect of depreciation, interest and administrative expenditure pertaining to Block-C on the ground that Department has accepted in assessment year 2013-14 that Block-C has been “put to use”. Once having accepted this position, the Assessing Officer cannot change his opinion in immediate next assessment year without there being any change in facts and circumstances. We find no infirmity in the impugned order, hence, the same is upheld.
FULL TEXT OF THE ORDER OF ITAT MUMBAI
This appeal by the Revenue is directed against the order of Commissioner of Income Tax(Appeals)-8, Mumbai [in short ‘the CIT(A)’] dated 13/08/2019 for the assessment year 2014-15.
2. The Revenue has raised following grounds assailing the order of CIT(A) :
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