2018 (1) TMI 1305

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....ssioner of Income Tax under Section 148 of the Income Tax Act, 1961 (the Act). The impugned notice dated 23rd March, 2017 seeks to reopen the assessment for A.Y. 2010-11. 3. The reasons in support of the impugned notice as furnished to the petitioners, read as under : " The assessee filed Rol on 04.10.2010 declaring total income at Rs. Nil. The case was brought under scrutiny and an order u/s 143(3) was passed on 05.06.2012 assessing the total income at Rs. Nil. On verification of records it is seen that the assessee had claimed depreciation of Rs. 2,39,32,793/on movable and immovable assets and has also claimed of the Income Tax Act, 1961, which amounts to double deduction. It is pertinent to note here that Hon'ble Apex Court in ....

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.... the reasons by letter dated 3rd October, 2017 wherein they relied upon the decision of this Court in Commissioner of Income Tax Vs. Institute of Banking Personnel Selection, 264 ITR 110 dealing with an identical issue as raised for the reasons recorded in support of the impugned notice and holding that the Charitable Trust is entitled to claim depreciation on assets, the cost of which has already been claimed as a capital expenditure in an earlier assessment year. Further reliance was also placed upon the decision of this Court in the petitioners' own case being DIT V/s. G.D. Birla Medical Research & Education (Appeal Nos. 2294 and 2295 of 2013) rendered on 1st February, 2016. In the above case, this Court had dismissed the Revenue&#39....