TaxTMI 
TaxTMI 
2022 (11) TMI 1247
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....20/02/2021 passed u/s 154 by the Asst. Commissioner of Income Tax, Central Circle 1(2), Pune [for short "AO"] for assessment years [for short "AY"] 2010-11 to 2013-14. 2. The subject matter of adjudication falls within the narrow compass as to whether an intimation passed u/s 143(1) can be rectified after the expiry of statutory time limit prescribed u/s 154(7) of the Act. And if it reaches affirmative answer, then the consequential question as to whether claim for additional depreciation u/s 32(1)(iia) of the Act is in modification of original claim made in the ITR or a fresh claim to testify its allowance through rectification application. 3. Since the issue involved in all these appeals is identical, with the agreement of both the ....
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.... law the A.O. was not justified in rejecting the application of the assessee filed u/s 154 of the Act seeking allowing of the additional depreciation u/s 32(1)(iia) of the Act. It be allowed. 2. On the facts and in the circumstances of the case and in law the non-jurisdictional Delhi High Court in the case of Vedanta Ltd. (supra) held that the Additional depreciation u/s 32(1)(ii-a) is to be allowed whether claimed or not. This legal issue in the absence of any contrary judgment of jurisdictional High Court judgment is allowable as it is binding on the authorities. It be allowed. 3. On the facts and in the circumstances of the case and in law the application under S. 154 was maintainable since no jurisdictional High Court ....
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....facts and law of this case. The Ld. CIT(A) failed to appreciate this judicial interpretation. 7. On the facts and in the circumstances of the case and in law and it was submitted before CIT(A) through written submissions that the mandate of Explanation 5 and the interpretation made the additional depreciation as provided u/s 32(1)(ii-a) has to be allowed under CI. (ii) in the absence of any separate provision for allowing of additional depreciation under Cl. (ii-a). The claim of additional depreciation be allowed to the appellant as per law. 8. The appellant craves to leave, add/amend or alter any of the above grounds of appeal. 5. Tersely stated the facts of the case are; 5.1 The assessee is a private limited ....
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....d. AO being time-barred. 5.4 Aggrieved thereby the appellant company challenged the action of Ld. AO before the first appellate authority [for short "FAA"], wherein the Ld. CIT(A) beside echoing the views of tax authority below on ground of limitation set u/s 154(7) of the Act, has in the light of decision of Hon'ble Madras High Court in "Nagraj & Co. Pvt. Ltd. Vs ACIT" reported in 425 ITR 412, rejected to entertain the new claim of additional depreciation made by the appellant by filing of rectification application u/s 154 of the Act, as extralegem. 5.5 Aggrieved by the orders of both the tax authorities below, the appellant company is before this Tribunal seeking relief on the grounds of appeal set at para 4 herein befor....
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....s that, the orders of both the tax authorities below are culminated after according reasonable opportunities to the appellant and after due consideration to the written submissions made by the assessee during the proceedings before them, in the event the claim of the appellant being perverse stands dismissed, thus the ground number 1 and 2. 9. In so far as the ground number 3 and its counterpart is concerned, it alleged against denial of claim of additional depreciation made first-time through rectification application u/s 154(1) of the Act, after the expiry of time limit prescribed u/s 154(7) of the Act, this brings us to adjudicate two issues; 9.1 Whether intimation passed u/s 143(1) can be rectified after the expiry of statut....