2017 (3) TMI 1980

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.... ORDER PER D. T. GARASIA, JM: The captioned appeal by the Revenue is directed against the order of the CIT(A)-08, Mumbai dated 27/02/2015, pertaining to the Assessment Year 2010-11, which in turn has arisen from the order passed by the Assessing Officer dated 20/03/2013 under section 143(3) of the Income Tax Act, 1961 (in short 'the Act'). 2. The Only ground in this appeal reads as und....

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....ordingly to claimed depreciation on the vehicle leased, but the A.O. disallowed the depreciation. 4. The matter travelled to CIT(A) and CIT(A) has allowed the claim of the assessee by observing as under:- "The issue is covered by the judgment of the Hon'ble Supreme Court in the case of ICDS Ltd. us CIT (2013) 350 ITR 527, wherein it has been held that section 2 (30) of the Motor Ve....

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.... in the present case and the position of law enunciated by the Hon'ble Supreme Court delineated here-in-above, the addition of Rs. 52,17,62,572/- made by the AO is deleted". 5. The Ld. AR submitted that a similar issue had assessee in assessee's own case for AY 2007-08 to 2009-10 wherein the Tribunal has dismissed the appeal of the and therefore, the departmental appeal may be dismissed. ....

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....icles. As the owner, it used the assets in the course of its business, satisfying both requirements of section 32 of the Act and hence was entitled to claim of depreciation in respect of addition made to the trucks, which were leased out. However, we are making it clear that the learned Assessing Officer is to satisfy himself whether the parties who are using the vehicles may not get the benefit o....