TaxTMI 
TaxTMI 
TaxTMI 
2021 (7) TMI 724
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....ng the facts that the said expenditure is not allowable u/s 36(1)(viii) and the assessee itself also failed to furnish separate working for eligible advances made on the Long Term Finance u/s 36(1)(viii) of the Act? 3. Whether on the facts and circumstances of the case and in law, the ld. CIT(A) has justified in deleting the addition of Rs. 3,06,81,350/- made by the AO on account of disallowance of investment depreciation without appreciating the facts that the assessee failed to prove any separate working for investment depreciation nor provided any supporting evidences? 4. It is, therefore, prayed that the order of the Ld.CIT(A) may be set aside and that of Assessing Officer may be restored to the above extent. 5. The appellant craves leave to add, alter, amend and/or withdraw any ground(s) of appeal either before or during the course of hearing of the appeal." 1. At the outset of hearing the learned Authorized Representative (AR) of the assessee submits that all the grounds of appeal raised by the Revenue are covered in favour of the assessee by the decision of Tribunal in assessee's own case for assessment year 2013-14 or in earlier years or by the orders of Higher Court....
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....ated the submissions made before the authorities below and drawing our attention to paper book page 45 and 49, relied on the decisions rendered by the Hon'ble Gujarat High Court in the case of (i)Mahesana District Co-operative Milk Producers Union Ltd. Vs. CIT, 258 ITR 780 (Guj) and (ii) CIT vs,. Kaira District Co-operative Milk Producers' Union Ltd., 209 ITR 898 (Guj) wherein the Hon'ble High Court on similar facts decided the identical issues in favour of the assessee and against the Revenue and pleaded that the claim of the assessee may be allowed. The learned DR could not controvert the submission of the learned Counsel for the assessee. Since we have decided identical issue in ground No.3 of the appeal hereinabove in para 3 of this order in favour of the case laws cited by the learned Counsel for the assessee, there raise no question not to follow the same. Accordingly, we hereby reverse the order of the CIT(A) on this issue and allow the ground of appeal of the assessee in its favour." 4. After going through above decision of the coordinate bench of the Tribunal on similar issue, wherein no variation is brought to our notice, therefore, we find that this issue is squarely co....
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.... for assessment year 2009-10 in the case of Surat National Co-operative Bank Ltd in ITA No. 2793/Ahd/2912 dated 23/08/2013 wherein in para 8,9, and 11 of the Tribunal has given the finding as under:- "8. Brief facts of the case are that during the assessment proceedings, it was noticed by AO that assessee has claimed gift expenses of Rs. 17,10,728./-. As per assessee's explanations, these gifts were distributed to the members of the bank to keep alive good image about members and for generating goodwill and ensuring continuity of business with members of societies and such expenses are allowable in the light of decision of Hon'ble Gujarat High Court in the case of Daskroi Taluka Cooperative & Sales Union Ltd., reported in 126 ITR 413. The explanation of assessee was not accepted by AO on the ground that such expenses appeared to be an altrustic and philanthropic urge which should have been satisfied by assessee at its own cost not at the cost of public exchequer or other tax payers and such expenses also prove that assessee wants to increase the expenditure on some pretext or other thereby reducing his tax liability. With this conclusion; AO disallowed the gifts expenses of Rs. 1....
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.... the decision of jurisdictional High Court in the case of Daskro Taluka Cooperative & Sale Ltd., 126 ITR 413, we feel no need to interfere with the order passed by him and the same is hereby upheld. 11. Ground No. 3 relates to deletion of addition of Rs. 38,37,116/- made on account of Staff Ex Gratia." 20. We further found that the issue is covered by decision of Tribunal in assessee's own case for the AY 2010-11 dated 06.07.2018 in ITA No.1268/Ahd/2015 wherein the Tribunal has observed as under:- "10. We have considered the facts and rival submission. We find that the issue has been duly covered by the decision of Tribunal in the assessee's own case for AY 2009-10 dtd. 23.08.2013 wherein, the Hon'ble Tribunal observed as under: '9. Before Ld. CIT((A), assessee's submission was as follows: "3.2 During the appellate proceedings, it was explained by appellant that during the assessment proceedings complete details of working out the 20% of profits derived, were furnished to the AO but the same were ignored. 'As regards Ground No.II about deduction u/s. 36(1)(viii) for Rs. 50,09,000/- the details haves been furnished as per para (2) of letter dated 06.08.2011 to the Assess....
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....nsidering the consistent decisions of the Tribunal in assessee's own case on similar grounds of appeal, we do not find any merit in the ground of appeal raised by the revenue, thus, we affirm the order passed by Ld. CIT(A). In the result this ground of appeal is also dismissed. 11. Last issue in this appeal relates to deleting the addition of Rs. 3,06,81,350/- on account of disallowance of investment depreciation. The Ld. CIT-DR for the revenue supported the order of the assessing officer. 12. On the other hand the Ld. AR for the assessee submits that this grounds of the appeal is also covered in favour of the assessee and against the revenue by the order in assessee's own case for A.Y. 2013-14. Further the assessing officer allowed the similar investment depreciation in A.Y. 2012-13 in assessment order passed under section 143(3) dated 30.03.2015. 13. We have considered the rival submissions and perused the relevant material on record. We find that on similar grounds of appeal in assessee's own case for A.Y. 2012-13 the Tribunal passed the following order; "27 We have heard the rival submissions and perused the relevant material on record. We find that as per Schedule 17 to A....