2015 (7) TMI 408

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....ation on computers of Rs. 30,82,560 through the assessee could not prove the genuineness of the purchase of new computers on which depreciation was claimed. 2. In the facts and circumstances of the case, the Learned CIT(Appeals) grossly erred in deleting the addition made by the A.O. not appreciating the fact that the assessee failed to furnish the details of computers purchased on which depreciation was claimed. 3. In the facts and circumstances of the case, the Learned CIT(Appeals) grossly erred in deleting the addition made by the A.O. not appreciating the fact that just mere obtaining PAN. VAT certificated does not conclusively prove the identity of party from whom computers were claimed to have purchased. Further, payment through....

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....were purchased had raised an invoice for payments and had also levied value added tax on the same, a copy whereof was furnished before the Assessing Officer. The payment made through cheque to the said company for the computers was duly cleared from the bank account of the assessee. He contended that the computers were purchased by the assessee in July 2008 and the Assessing Officer had got examined their physical presence by sending somebody on their given address in December 2011. Thus, it was possible that the company might have shifted its address or might have reorganized its business. The Learned AR also pointed out that the Delhi Value Added-tax website contains details of the VAT registration for the company and the address of the c....

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....e that to examine genuineness of depreciation claimed under the provisions of sec. 32 of the Act, all that needs to be established is ownership of depreciable assets and their use in the business of the assessee. The Pune Bench of the ITAT in the case of U.B. Engineering Ltd. vs. JCIT (supra) where the genuineness of purchase of certain gas cylinder was questioned in a claim of depreciation for the same, held that the ownership of the gas cylinder, their use in the business of the assessee and genuineness of payment for such gas cylinders was deemed to be sufficient to prove the genuineness of the transaction. Similar view has been expressed in the above cited decisions on the issue of genuineness of the purchases transaction. We are thus o....

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....nue expenditure incurred by the assessee towards payment of software license fee on the basis that the license fee was valid for a period outside the assessment year? 10. At the outset of hearing, the Learned AR pointed out that the issue raised in the above grounds is squarely covered by the decision of Delhi Bench of the ITAT in the case of assessee itself for the assessment year 2008-09 vide order dated 06.09.2012 in ITA No. 2497/Del/2012. The Learned AR referred para No.18 of the order of the ITAT in support. 11. The learned Sr.DR on the other hand placed reliance on the orders of the authorities below. 12. Having gone through the orders of the authorities below and the above cited decisions of the ITAT, we find that the author....