2023 (12) TMI 1048

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....ions of law:- "[i] Whether the decision of the Tribunal in confirming the order of the Assessing Officer passed under Section 143(3) of the Income Tax Act, 1961 and in setting aside revisional order of the Commissioner on the question of disallowability maintenance expenses and depreciation was contrary to law or not? (ii) Whether the finding of the Tribunal in permitting deduction of lease rent for vehicle obtained on lease by the Assessee was perverse or not?" 3. Requirement of filing paper book was dispensed with by the aforesaid order. 4. We have heard learned counsel for the parties and carefully perused the record of the appeal. 5. The finding of the Income Tax Appellate Tribunal recorded in the impugned ord....

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.... of the assessee. 6. Apart from the above, learned counsel for the respondent/assessee has also placed before us a judgement and order dated 27.06.2018 in ITAT No. 298 of 2016 (Principal Commissioner of Income Tax, Kol-3, Kolkata v. EIH Limited) relating to assessment year 2002-03, which is inter parties; by which the appeal of the revenue raising objection to the admissibility of depreciation and maintenance was dismissed by this Court. Similarly, in an appeal being ITAT No. 34 of 2020 (Principal Commissioner of Income Tax, Kol-3, Kolkata v. M/s. EIH Limited) filed by the revenue against the present assessee relating to assessment year 2008-09, substantial question of law No.(i) was framed by a co-ordinate Bench of this Court as under:-....

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....1 to 4.4.1, wherein it meticulously considered the facts and evidences and thereafter recorded a finding of fact that the respondent/assessee has taken certain vehicles on lease from Orix Auto Infrastructure Services Limited and paid total lease rent of Rs. 393.52 lakh. Depreciation on vehicles was claimed by the lessor i.e. the owner namely M/s. Orix Auto Infrastructure Services Limited. The respondent/assessee has not claimed any depreciation as per provisions of the Act 1961 and instead had claimed the entire lease rental as revenue expenditure. 10. Relying upon the judgment of the Hon'ble Supreme Court in the case of I.C.D.S. Ltd. & Anr. v. CIT reported in (2013) 350 ITR 527 (SC) and a judgment of Rajasthan High Court (Jaipur Bench) ....