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of <h1>Depreciation allowance upheld as application of income, emphasizing consistency in tax decisions</h1> <h3>INCOME TAX OFFICER Versus DR. RL. KHERA CHARITABLE TRUST</h3> INCOME TAX OFFICER Versus DR. RL. KHERA CHARITABLE TRUST - TMI Issues:Allowance of depreciation as application of income and reliance on previous tribunal orders and high court judgments.Analysis:Issue 1: Allowance of depreciation as application of incomeThe appeal filed by the Revenue challenged the order of the CIT (A) allowing depreciation as application of income, contending that the assessee trust had already claimed it as application of income at the time of addition to fixed assets. The Ld. AR argued that the issue was settled in favor of the assessee by a previous Tribunal order for the 2008-09 assessment year. The Co-ordinate Bench had relied on judgments of the Punjab & Haryana High Court and the Jurisdictional High Court. The Ld. Sr. DR for the department relied on the assessment order. The CIT (A) had also considered the assessee's case for the 2007-08 assessment year and the judgment of the Delhi High Court. Ultimately, the Tribunal dismissed the departmental appeal, following the previous orders in the assessee's own case and the decisions of the Jurisdictional High Court, as no contrary decision was presented by the Revenue for consideration.Issue 2: Reliance on previous tribunal orders and high court judgmentsThe Tribunal emphasized the significance of previous Tribunal orders in the assessee's favor for consecutive assessment years, highlighting the consistency in decisions. The Tribunal noted the reliance on judgments of the Jurisdictional High Court, indicating a well-established legal position supporting the assessee's claim. By dismissing the departmental appeal, the Tribunal reaffirmed its commitment to following established precedents and legal interpretations, reinforcing the importance of consistency and adherence to higher court decisions. The order was pronounced openly, finalizing the decision to uphold the allowance of depreciation as application of income based on the existing legal framework and precedents.In conclusion, the judgment by the Appellate Tribunal ITAT DELHI upheld the allowance of depreciation as application of income based on previous tribunal orders and high court judgments, emphasizing the importance of consistency and adherence to established legal interpretations. The decision demonstrated a commitment to following precedents and maintaining a stable legal framework for tax matters.
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