2026 (4) TMI 1193

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....es rise to the following three questions of law:- "(A). Whether on the facts and circumstances of the case and in law, Hon'ble ITAT erred in relying upon the decision of Thomas Cook India Ltd. (ITAs/1261 & 1238/Mum/2015 dated 31.05.2016) and apply the principle laid down therein, wherein it is held that the transactions in dispute (AMP expenses) is not covered by the provisions of section 92B or 92B(1) of the Act and hence it is not an International transaction?. (B). Whether on the facts and circumstances and in law the Hon'ble ITAT is justified in deleting the disallowance of depreciation on plant and machinery and Building in AY 2010-11, ignoring the fact that the assessee itself during the assessment proceeding....

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....graph 4 of the impugned order. For the sake of convenience, paragraph 4 of the impugned order is reproduced hereunder:- "GOA-17 is about disallowance of depreciation on plant and machinery and building amounting to Rs.3.41 lakhs.It was brought to out notice,by the representatives of both the sides, that the issue stands covered by the earlier orders of the Tribunal(ITA/812/Ahd./2008(04-05)&1245/Ahd./2008(03-04);ITA/836/Ahd/2008(04-05)&1181/Ahd/2008(03-04),dated- 25/5/2017). We are reproducing the relevant portion of the order and it reads as follow: 11. We have gone through the order of the Tribunal in assessee's own case as well as the order of the lower authorities for the year under consideration. In the A.Y. 2003-0....

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.... CIT v Oswal Agro Mills (197 Taxman 25) (HC), Swati Synthetics Ltd v ITO (38 SOT 208) (Mumbai ITAT) and Allied Photographics (8 SOT 318) (Mumbai ITAT). The Department has filed an appeal before the Hon'ble ITAT for AY 2007-08. However, the aforementioned issue was not taken in appeal by the Department before ITAT. We also found that Department accepted CIT(A) order for AY 2002-03. The CIT(A) has accepted the principle that with the introduction of concept of WDV of block of assets, the depreciation is allowable not on individual items but depending upon date of acquisition and put to use of the asset. Further, CIT(A) was in agreement with assesse's view that section 38(2) deals with usage of assets for non-business purposes and....