2022 (7) TMI 891

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....m, CIT-DR for the Revenue ORDER Per Bench : ITA No.70/CTK/2021 is an appeal filed by the assessee against the order passed u/s.263 of the Act by the ld. CIT(E), Hyderabad, in DIN & Letter No.ITBA/COM/F/17/2020-21/1031719430(1), dated 24.03.2021 for the assessment year 2015-2016. ITA No.52/CTK/2022 is an appeal filed by the assessee against the order passed u/s.263 of the Act by the ld. CI....

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....R that the ld. CIT(E) has invoked his powers u/s.263 of the Act in respect of an assessment order passed by the AO u/s.143(3) of the Act. It was submitted that the ld. CIT(E) was of the view that the assessee has claimed depreciation and also claimed capital expenditure and thereby violated the provisions of Section 11(6) of the Act. It was the submission that the assessee has claimed depreciation....

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....at this is why the ld.CIT(E) invoked the powers u/s.263 of the Act. It was the submission that the order u/s.263 of the Act is liable to be upheld. 6. We have considered rival submissions. 7. A perusal of the audit report along with the utilisation chart towards asset creation clearly shows that the assessee has not claimed depreciation in respect of the assets in respect of which the claim ....