2012 (8) TMI 1149

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....JENDRA, A.M. The solitary Ground of Appeal against the order dated 23-03-2010 of the CIT(A)-34, Mumbai reads as under: On the basis of facts and in the circumstances of the case, the learned CIT(A) erred in a)Confirming an addition of Rs. 27,727/- in respect of depreciation on assets introduced by a partner of the firm. b)Not following that tests prescribed by the ape....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t firm. Since the bills of the fixed assets were not in the name of the assessee, AO disallowed the claim of depreciation to the extent of Rs. 27,727/-. In the appellate proceedings before the First Appellate Authority (FAA) it was held that the assets in question were not in the name of the assessee-firm, so it was not entitled for depreciation. Upholding the order of the AO, he dismissed the app....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hat AO/FAA had rightly disallowed the claim made by the assessee. 4. We have heard the rival submissions and perused the material submitted before us. The undisputed facts are that the assets were purchased by Shri Dadarkar in his individual capacity, that he had made the payment, that by journal entry he transferred the said assets to the assessee-firm. In our opinion, provisions of the Act do....