2015 (10) TMI 1861

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....ot pressed as they are argumentative in nature. Accordingly, they are dismissed as not pressed. In connection with first ground, the ld. Counsel for the assessee mentioned that there are a couple of limbs in this ground and the same is extracted as under: "The Commissioner of Income-tax(Appeals) erred both in law and on the facts of the case, (i) in not directing the Assessing Officer to calculate the depreciation on the basis of written down value as on 31.3.1994, and (ii) in not setting off of the loss carried forward from assessment year 1994-95." 3. Giving background of this appeal, the ld. Counsel for the assessee submitted that it is second round of the proceedings before the Tribunal. In the first round, the Tribunal dism....

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....ld. Counsel for the assessee brought our attention to paras 16, 17 and 19 of the binding judgment of the Hon'ble High Court (supra) and submitted that the findings of the Tribunal in the first round on both the issues stand set aside and the issues are remanded back to the Tribunal for fresh consideration. Further, referring to para 16, the ld. Counsel for the assessee submitted that on the given facts of the assessee, the written down value for the assessment year 1994-95 remains the written down value for the assessment year 1995-96 also if there is a valid claim in the valid return, and, therefore, the same has to be taken into consideration in working out the depreciation for the assessment year 1996-97. Further, on the second limb ....

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....assessment year 1996-97. However, when the assessee realized the mistake in the calculation, we do not think that there should be any impediment for the assessee in knocking at the doors of the Appellate Authority for reworking the assessment and no exception hence could be taken to the conduct of the assessee in filing such an appeal for the relief to arrive at correct tax liability. Eve in the worst scenario, even when the assessee conceded to the addition, it is always open to the assessee to go before the Appellate Authority to challenge the assessment on that particular addition. In fact a reading of section 246 shows that any assessee aggrieved by any of the enumerated orders of the Assessing Authority may appeal to the Appellate Auth....