Disallowance of additional depreciation u/s 32(1)(iia) of the Income Tax Act, 1961

Last updated: 07 August 2021

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This Income Tax Appellate Tribunal case concerns the disallowance of additional depreciation claimed by M/s. Hero MotoCorp Ltd. for the assessment year 2008-09. The Revenue appealed the CIT(A)'s decision to grant relief to the assessee. However, the Tribunal upheld the CIT(A)'s order, dismissing the Revenue's grounds of appeal.

Court :
INCOME TAX APPELLATE TRIBUNAL DELHI

Brief :
This appeal filed by the Revenue is directed against the order dated 02.03.2016 of the Commissioner of Income Tax (Appeals)- 16, New Delhi relating to Assessment Year 2008-09.

Citation :
ITA No. 3537/Del/2016

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI
BENCH ‘G’, NEW DELHI
BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER
AND SH. KULDIP SINGH, JUDICIAL MEMBER
(THROUGH VIDEO CONFERENCING)
ITA No. 3537/Del/2016
(Assessment Year : 2008-09)

DCIT
Circle – 11(1),
New Delhi
PAN No. AAACH 0812 J

(APPELLANT)

M/s. Hero MotoCorp Ltd.,
34, Basant Lok, Vasant
Vihar, New Delhi

RESPONDENT

Assessee by Shri Prakash Dubey, Sr. D.R.
Revenue by Shri Gaurav Jain, Adv.
Ms. Manisha Sharma, Adv.
Date of hearing: 15/07/2021
Date of Pronouncement: 26/07/2021
ORDER

This appeal filed by the Revenue is directed against the order dated 02.03.2016 of the Commissioner of Income Tax (Appeals)- 16, New Delhi relating to Assessment Year 2008-09.
2.Assessee is a company who filed its return of income for A.Y. 2008-09 on 26.09.2008, declaring total income of
Rs.1307,37,84,038/-. Thereafter, assessee filed revised return of income with increased claim of TDS on 05.03.2009. Thereafter, the assessment was framed u/s 143(3) r.w.s 144C of the Act and the total income was determined at Rs.4585,87,70,541/- by making various additions/ disallowances amounting toRs.3355,12,31,399/-.

3. Aggrieved by the order of AO, assessee carried the matter before the CIT(A) who vide order dated 02.03.2016 (Appeal No.192/15-16) granted substantial relief to the assessee. Aggrieved by the order of CIT(A), Revenue is now before us andhas raised the following grounds of appeal.

4.Before us, at the outset, Learned DR submitted that the issue in the various grounds raised by the Revenue is with
respect to penalty levied by AO u/s 271(1)(c) of the Act and which was deleted by CIT(A). Before us, Learned DR supported the order of AO.

5. We are of the view that the ratio of the aforesaid decision would be squarely applicable to the facts of the present case. In such a situation, relying on the aforesaid decision in the case of Harsh
International Pvt. Ltd. (supra), we find no reason to interfere with the order of CIT(A) and thus the ground of Revenue are dismissed.

In the result, appeal of the Revenue is dismissed.
Order pronounced in the open court on 26.07.2021

Please find attached the enclosed file for the full judgement