2020 (10) TMI 399

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....essment order passed by the Assessing Officer u/s 143(3) of the Income Tax Act, 1961 (in short the "Act") dated 20/12/2017. 2. The grounds of appeal raised by the assessee reads as follows: 1. For that on the facts and in the circumstances of the case, the ld. CIT(A) grossly erred in confirming the disallowance of depreciation of Rs. 14,33,621/- made by the Assessing Officer. 2. The appellant craves leave to add further grounds of appeal or alter the grounds at the time of hearing. 3. Brief facts qua the issue are that during the scrutiny proceeding, the assessing officer noticed that the assessee company has claimed depreciation of Rs. 43,07,373/- in its return of income for the A.Y.2015-16. From the details, it was....

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....nd unstamped 10 8033 Unsigned and unstamped 15 7365 Unsigned and unstamped 18 3938 Unsigned and unstamped 26 15200 No name and address 40 48600 Without name, address and signature 61 7000 Unsigned and unstamped 63 8500 Different name 66 24500 No name 77 20500 No name N/A 86400 Unsigned and unstamped   16,75,599   Computers (Half Year) 110 33750 Unsigned and unstamped 124 595035 Unsigned and unstamped 125 5970 Unsigned and unstamped 128 162540 Unsigned and unstamped 138 2000 Repairing charges 142 1596 Unsigned and unstamped 150 13240 Unsigned and unstamped 151 330....

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....wed, details of which are as follows: Block of assets Duration Improper bills Depreciation rate Amount Computers Full year 16,75,599 60 per cent. 10,05,359 Computers Half year 9,88,011 30 per cent. 2,96,403 Electrical Eqpt Full Year 4,91,721 15 per cent. 73,758 Office Eqpt Full Year 2,55,887 15 per cent. 38,383 Office Eqpt Half Year 96,750 7.5 per cent. 7256 Furniture and Fixtures Full Year 1,24,622 10 per cent. 12,462 Total 14,33,621 As such, the above said purchase bills as submitted by the assessee are treated as not genuine and accordingly, depreciation amounting to Rs. 14,33,621/- as claimed on the above assets was disallow....

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....have already noted in our earlier para and the same is not being repeated for the sake of brevity. 7. We have heard both the parties and carefully gone through the submission put forth on behalf of the assessee along with the documents furnished and the case laws relied upon, and perused the fact of the case including the findings of the ld CIT(A) and other materials available on record. We note that at the outset itself, the ld. Counsel for the assessee has fairly agreed with the Bench that out of Rs. 14,33,621/-, Rs. 1,00,000/- may be disallowed on account of miscellaneous deficiency or differences. The ld. D.R. for the revenue has also agreed with the bench that in order to cover the miscellaneous deficiencies a minimum of Rs. 1,00,00....