TaxTMI 
TaxTMI 
2020 (4) TMI 212
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....ear 2011-12,M/s. Container Corporation of India Ltd., ("the assessee") as well as the Revenue preferred these cross appeals. 2. Brief facts of the case are that the assessee is engaged in the business of handling and transportation of containerised cargo. For the assessment year 2011-12 they have filed their return of income on 23/9/2011 declaring taxable income of Rs. 4,88,15,71,824/-after availing deduction under section 80IA of the Income Tax Act, 1961 (for short "the Act") in the computation of income. Learned Assessing Officer, however, computed the income of the assessee at a Rs. 987,29,09,951/-after disallowing the deduction under section 80IA of the Act in respect of inland port and the rail system, depreciation on assets retired f....
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....8/2017 by order dated 31/10/2017 the Hon'ble High Court observed that the Revenue's contention was resurrected for the previous years in assessee's own case reported in 346 ITR 140 and Hon'ble High Court approved the reliance on previous ruling in respect of rolling stock also. Hon'ble Supreme Court in assessee's own case reported in (2018) 404 ITR 397 (SC) held that inland container depots or inland ports, subject to provisions of section 80IA of the Act and deduction can be claimed for income earned out of these depots. On this score ground No. 1 of assessee's appeal stands allowed and ground No. 1 of Revenue's appeal stands dismissed. 6. Ground No. 2 of assessee's appeal is in respect of the disallowance to the tune of Rs. 95,06,934/-on....
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....leasehold premium paid and equalisation of lease charges, which cannot be compared and so set aside the issue to the file of the learned Assessing Officer for verification of the completed details of the claim of the assessee. 8. In assessment year 2010-11, a coordinate Bench of this Tribunal, while following the earlier decision for the assessment years 2008-09 and 2009-10 of this Tribunal, held that there is change in the factual matrix of the case on this aspect and thought it fit to set aside this issue to the file of the learned Assessing Officer with a direction to the assessee to furnish all requisite details in respect of the claim of depreciation and directed the Assessing Officer to verify the details to determine the allowabilit....
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....Bench of this Tribunal for the assessment year 2008-09 held the issue in favour of the assessee. So also, for the assessment year 2010-11. Issue being identical, in the absence of any change in circumstances, we follow the same and consequently dismiss ground No. 2 of Revenue's appeal. 11. Lastly, ground No. 3 of Revenue's appeal is in respect of the disallowance to the tune of Rs. 3,08,178/-of depreciation on the assets which were not registered in the name of the assessee. This issue is also squarely covered by the order dated 31/10/2017 of the Hon'ble High Court in ITA No. 917 & 18/2017 wherein it was held that inasmuch as the assessee has been paying all the amounts to the transferor and obtained possession, and has also been using the....