2021 (5) TMI 202

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.... Sr. DR ORDER PER R.K. PANDA, AM: This appeal filed by the assessee is directed against the order dated 27th September, 2019 of the CIT(A), Karnal, relating to the assessment year 2014-15. 2. Facts of the case, in brief, are that the assessee is a partnership firm and derives income from manufacturing and trading of rice by husking of paddy and sales thereof. It filed its return of inc....

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....sessee challenged the order of the AO in denying the claim of additional depreciation which is the subject matter of appeal before the Tribunal. However, the ld.CIT(A) dismissed the claim of additional depreciation raised before him by observing as under:- "I have examined the facts of the case, the remand report of the Assessing Officer (A.O.) and the counter comments of the appellant. ....

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....ounds:- "1. That the order of the Learned CIT(A), Karnal is against law and facts. 2. The claim of additional Depreciation made during assessment proceedings should have been allowed in view of section 32(1) as A.O. is bound to allow additional Depreciation in view of explanation 5 to section 32(1). 3. That claim for additional Depreciation even made during assessment pr....

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....e Supreme Court in the case of M/s Goetze (India) Ltd. vs. CIT (supra), the decision was limited to the powers of the assessing authority and does not impinge on the power of the Income-tax Appellate Tribunal u/s 254 of the Income-tax Act, 1961. We, therefore, direct the AO to adjudicate the issue of additional depreciation which was not claimed by the assessee either in the original return or dur....