Ready to use is a prima facie requirement for claiming Depreciation and Interest u/s 36(1)(iii) rather than put to use.

Last updated: 12 January 2021

Court :
ITAT Bangalore

Brief :
This appeal is filed by the assessee and the same is directed against the order of learned CIT (A) – 4 Bengaluru dated 30.11.2017.

Citation :
ITA No. 525/Bang/2018

IN THE INCOME TAX APPELLATE TRIBUNAL
“B” BENCH : BANGALORE

BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND
SMT. BEENA PILLAI, JUDICIAL MEMBER

ITA No. 525/Bang/2018
Assessment year : 2014 – 15

M/s Mantri Developers Private Limited,
#41, Mantri House,
Vittal Malya Road,
Bangalore – 560001
PAN : AAACG4009N
APPELLANT

Vs.

DCIT Circle – 4 (1) (2),
Bengaluru
RESPONDENT

Assessee by : Shree V. Srinivasan, Advocate
Revenue by : Shree Muzaffar Hussain, CIT DR

Date of hearing : 09.09.2020
Date of Pronouncement : 27.10.2020

O R D E R

PER ARUN KUMAR GARODIA, A. M.:

This appeal is filed by the assessee and the same is directed against the order of learned CIT (A) – 4 Bengaluru dated 30.11.2017.

2. The Grounds raised by the assessee are as under:-

1. The orders of the authorities below in so far as they are against the appellant, are opposed to law, equity, weight of evidence, probabilities, facts and circumstances of the case.

2. The learned CIT[A] is not justified in upholding the disallowance in respect of depreciation claimed by the appellanton the building known as "Business ® Mantri" at Pune to the extent of Rs.9,65 57 179/- holding that the appellant has not put the aforesaid asset to use during the year under appeal under the facts and in the circumstances of the appellant's case.

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