2015 (11) TMI 849

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....ich was allowed as a part of utilisation. 2. The assessee, a trust registered under section 12A of the Income-tax Act, 1961 (in short "the Act"), had claimed depreciation on assets as an outgo while computing its income, which claim was disallowed by the Assessing Officer relying on the decision of the hon'ble apex court in the case of Escorts Ltd. v. Union of India [1993] 199 ITR 43 (SC). 3. In its appeal before the Commissioner of Income-tax (Appeals), the assessee relied on the decision of co-ordinate Bench of this Tribunal in the case of Asst. CIT v. Shri Adichunchanagiri Shikshana Trust [2012] 19 ITR (Trib) 828 (Bang). The Commissioner of Income-tax (Appeals) accepted the contention of the assessee by relying on the decisions....

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....a Trust [2012] 19 ITR (Trib) 828 (Bang), and distinguishing the decision of the hon'ble Kerala High Court in the case of Lissie Medical Institutions v. CIT [2012] 348 ITR 344 (Ker) had held as under (page 77 of 5 ITR (Trib)) : "Ground No. 1 : The learned Commissioner of Income-tax (Appeals) erred in law by allowing the claim of depreciation on capital assets purchased during the year which have been considered as application of income. Ground No. 2 : The learned Commissioner of Income-tax (Appeals) erred by allowing the claim of depreciation on capital assets acquired during the year as it tantamount to double deduction. Ground No. 3 : The learned Commissioner of Income-tax (Appeals) ought to have considered the decision of the....

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....tive placed support and relied on the impugned order of the learned Commis sioner of Income-tax (Appeals) on this issue. It was submitted that in allowing the assessee's claim for depreciation on addition to assets during the relevant period, the learned Commissioner of Income-tax (Appeals) followed the decision of the co-ordinate Bench of this Tribunal in the case of one of the assessee's group trusts, i.e., Dr. T. M. A. Pai Foundation in I. T. A. Nos. 486 to 491 (Bang)/2009 dated February 16, 2010 for the assessment years 2001- 02 to 2006-07. It was further submitted by the learned authorised representative that the decision of the hon'ble Kerala High Court in the case of Lissie Medical Institutions (supra), relied on by the R....