2023 (6) TMI 218

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....ed flights to organizations, professionals worldwide. Assessee electronically filed its return of income for A.Y. 2015-1 on 28.11.2015 declaring loss of Rs. 1,12,04,454/- under the normal provision of Income Tax Act and Rs. 26,46,978/- under section 115JB of the Act. Therefore, the case was selected for scrutiny and assessment was framed u/s 143(3) of the Act vide order dated 27.12.2017 and the total loss was determined at Rs. 96,60,400/-. 4. Aggrieved by the order of AO, assessee carried the matter before CIT(A) who vide order dated 04.02.2019 in Appeal No.10305/18-19 granted partial relief to the assessee. Aggrieved by the order of CIT(A), assessee is now in appeal before Tribunal and has raised the following grounds: 1. "That having r....

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....for claiming depreciation i.e 28.09.2014 thus assessee is entitled 100% depreciation, hence impugned disallowance of Rs. 6,42,840/- is arbitrary and untenable shall be deleted . 3. The appellant craves the right to amend, add, delete, replace, all or any of the grounds of appeal either during the course of hearing or at any time before hearing of this appeal." 5. Before us, Learned AR submitted that though assessee has raised various grounds but the sole issue is with respect to the disallowance of depreciation. 6. During the course of assessment proceedings, AO noticed that assessee has claimed depreciation on vehicle. He noticed that the vehicle was purchased during the year and registration of the vehicle was done on 22.11.2014 and a....

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....td. vs. Commissioner of Income-tax (2012) 28 taxmann.com 89 (Delhi) wherein the Hon'ble High Court has held that the expression 'used for the purposes of the business' under section 32 of the Act would also mean an asset which is kept ready for use but is not actually put to use. He also placed reliance on the decision of Delhi High Court in the case of CIT vs. Refrigeration and Allied Industries Ltd. (2000) 113 Taxman 103 (Delhi - H.C.) wherein the Hon'ble High Court has held that the expression 'used' in Section 32(1) of the Act includes both passive and active user. He, therefore, submitted that the AO was not justified in disallowing the 50% claim of depreciation. He, therefore, submitted that assessee be allowed the full depreciation. ....