2017 (12) TMI 1681

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....were heard together and are being disposed off by this consolidated order. 3. Identical grounds are raised in both the appeals, except for the variance in figures. Hence, grounds pertaining to ITA No.503/Coch/2016 concerning assessment year 2010-2011 is reproduced below:- 1. The order of the learned Commissioner of Income Tax (Appeals) in ITA No.25/2013-14 dated 07.11.2016 for the Assessment year 2010-11 is erroneous in law, facts and circumstances of the case. 2. The learned Commissioner of Income Tax (Appeals) erred in deleting the addition of Rs. 84,31,34,267/- on account of depreciation claimed on HTM category investments. 3. The learned Commissioner of Income Tax (Appeals) ought to have noticed that the As....

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....he first appellate authority. The CIT(A), following the Tribunal orders in assessee's own case for assessment years 2005-2006, 2006-2007 and 2007-2008, decided the issue in favour of the assessee. The relevant finding of the CIT(A) in allowing the appeal of the assessee for assessment year 2010-2011 reads as follow:- "8. The next issue is regarding the depreciation on Held to Maturity (HTM) category of investments. It is seen that the Hon'ble Income Tax Appellate Tribunal, Kochi Bench has decided this issue in favour of the appellant in their own case for the assessment year 2005-06 vide ITA NO.1003/COCH/2008 dated 31/5/2011, for assessment year 2006-07 vide ITA NO.65/COCH/2009 dated 30/6/2011 and for assessment year 2007-08 vi....

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.... or that the same is not applicable to the facts of the case. We state so as, where applicable, as found by the tribunal in the assessee's case for AY 2000-01, the same is binding on the tribunal, so that it was incumbent for the Revenue to exhibit the inapplicability of the said decision if it were to secure a favourable from, or any modification/ variation from its earlier decision by, the tribunal. The same, in fact, and for the same reasons, represents the consistent view of the tribunal (refer: Dy. CIT v. Federal Bank Ltd. v. CIT, in ITA No. 718/ Coch/2008 dated 17/9/2010 for AY 2006-07). We decide accordingly dismissing the Revenue's ground." 9. Respectfully following the above orders of the ITAT, Kochi Bench in asses....