2014 (7) TMI 1168

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....pellant: Sh. P.K. Jain, CA & Rajiv Saxena, Adv. For the Respondent: Ms. A. Mishra, CIT(DR) O R D E R PER J.S. REDDY, A.M. This is an appeal filed by the assessee directed against the order of the CIT(Appeals)-XXI, New Delhi dated 25/02/2013 on the following grounds: 1. "That having regard to the facts and circumstances of the case, the ld. CIT-A has erred in law and on facts by upho....

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....ts in passing the order by not allowing the depreciation claim, which is contrary to the facts and law." 2. We have heard Shri P.K. Jain, ld. Counsel for the assessee and Ms. A. Mishra, ld. CIT(DR) on behalf of the Revenue. 3. On a careful consideration of the facts and circumstances of the case, we hold as follows. The assessee was granted registration u/s 12AA of the Act, vide order dated ....

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....1.2011 has computed the income of the assessee as an AOP, by observing that the assessee is not entitled for exemption u/s 11A of the Act. He rejected the claim for exemption u/s 11. The First Appellate Authority confirmed the same. 4.1 Aggrieved the assessee is in appeal before us. 5. The order granting registration u/s 12A read with section 12AA(1)(v) of the Act on 3rd September,2004 w.e.f....