2023 (3) TMI 775

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....Hari Prasada Rao, DR ORDER PER SHRI DUVVURU RL REDDY, JUDICIAL MEMBER : Condonation of Delay : This appeal is filed by the assessee against the order of Commissioner of Income Tax (Appeals) [CIT(A)], National Faceless Appeal Centre (NFAC), Delhi in DIN & Order No.ITBA/NFAC/S/250/2021-22/1035073486(1) dated 25.08.2021 for the Assessment Year (A.Y.) 2017-18 with the delay of 178 days. Th....

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....earing. I have heard the Ld.AR and perused the petition filed by the assessee. Keeping in view the extension granted by the Hon'ble Supreme Court during the Covid pandemic in SMW(A) No.3 of 2020 and the genuine medical reasons cited by the Ld.AR supported by the medical record, I condone the delay and admit the appeal for hearing. 2. Brief facts of the case are that the assessee is a charita....

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....also the law applicable to the facts of the case. 2. The learned Commissioner of Income Tax (Appeals) is not justified in holding that there is no mistake in the intimation u/s 143(1) of the Act in not allowing the depreciation claimed by the appellant and thereby holding that the assessing officer is justified in rejecting the petition filed by appellant u/s 154 of the Act. 3. A....

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....by the CPC, Bengaluru. The Ld.DR submitted that according to the amendment made in the Finance Act, 2014 w.e.f. 01.04.2015, depreciation cannot be allowed in the case of a Trust, which claims exemption u/s 11 of the Act. He, therefore, pleaded to uphold the order passed by the Ld.CIT(A) and dismiss the appeal of the assessee. 8. I have heard both the parties and perused the material placed on r....