2013 (12) TMI 1363

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....ch public are not substantially interested. The assessee filed its return of income for the assessment year 2007-2008 on 18.07.2008 admitting an income of Rs.1,73,46,400/-. The assessment was completed under section 143(3) read with section 153A of the I.T. Act on 30.12.2009 determining the total income of Rs.1,73,46,400/-. Later, the Commissioner of Income Tax (Central), Hyderabad issued show cause notice under section 263 of the Income Tax Act, on 16.02.2012 requiring the assessee to explain about the depreciation claimed on commercial vehicles and electrical fittings. In reply, the assessee submitted a detailed explanation before the Commissioner of Income Tax (Central), Hyderabad. However, the Commissioner of Income Tax (Central) did no....

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....aim made towards depreciation on electrical fittings. 4. Aggrieved, the assessee filed an appeal before us. At the outset there is a delay of 332 days in filing the appeal. The learned Counsel for the assessee Shri T. Chaitanya Kumar filed a sworn affidavit by Shri Anil Kumar Gaggar, Managing Director of the Company stating as follows : "For the A.Y. 2007-2008 the petitioner filed its return of income on 18.07.2008 admitting total income of Rs.1,73,46,400/-. The A.O. completed the assessment u/s.143(3) r.w.s.153A of the I.T. Act on 30.12.2009 accepting income returned. Later, the Commissioner of Income Tax by virtue of the powers vested in him passed an order u/s. 263 of the I.T. Act directing the A.O. to re-do the assessment. The A.O....

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....e the assessee owned some vehicles which were hired to other persons and the assessee has received hire charges. Further, it was stated that the assessee has also hired vehicles for which he paid freight charges. The assessee submitted that the hire charges paid were netted against the freight charges received and the balance amount only was debited to the P & L account. 8. It was also submitted by the learned Counsel for the assessee that the assessee is claiming depreciation on electrical equipments as the electrical items of plant and machinery were included in electrical fittings. The learned Counsel submitted that the Order passed by the Commissioner of Income Tax under section 263 of the I.T. Act setting aside the Order of the Asse....

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....or the other and parties have allowed that position to be sustained by not challenging the order, it would not be at all appropriate to allow the position to be changed in a subsequent year. On these reasonings, in the absence of any material change justifying the Revenue to take a different view of the matter-and, if there was no change, it was in support of the assessee - we do not think the question should have been reopened and contrary to what had been decided by the Commissioner of Income tax in the earlier proceedings, a different and contradictory stand should have been taken. We are, therefore, of the view that these appeals should be allowed and the question should be answered in the affirmative, namely, that the Tribunal was j....