TaxTMI 
TaxTMI 
2018 (4) TMI 2037
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....B. Mathur. For the Respondent(s): Mr. Gunjan Pathak with Ms. Ishita Rawat. JUDGMENT 1. In all these appeals common question of law and facts are involved hence they are decided by this common judgment. 2. By way of these appeals, the appellant has assailed the judgment and order of the tribunal whereby tribunal has allowed the appeal of the assessee and modified the order of CIT(A). 3. Counsel for the appellant has framed the following substantial question of law in all these appeals:- Appeal No. 20/2018 1. Whether in the facts and circumstances of the case the ITAT is justified in holding that the provisions of Section 115JB are not applicable to the assessee company because as per the provisions of Section....
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..../- on non-existing assets as on depreciation u/s 32 can be allowed on non-existing assets or the assets which are not put to use for business purposes? 2. Whether in the facts and circumstances of the case the ITAT is justified in holding that provisions of Section 115JB are not applicable to the assessee company because as per the provision of section 115JB(2) of the IT Act, the assessee company has to follow accounting policies and prepare its P & L account for the relevant previous year in accordance with the provisions of part II & III of schedule IV of the Company Act, 1956 which the assessee company has not followed? Appeal No. 24/2018 1. Whether in the facts and circumstances of the case the ITAT is justifi....
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.... CIT(A) on the disallowance of depreciation of Rs. 91136253/- on non-existing assets as no depreciation u/s 32 can be allowed on non-existing assets or the assets which are not put to use for business purposes? 3. Whether in the facts and circumstances of the case the ITAT is justified in holding that provisions of Section 115JB are not applicable to the assessee company because as per the provision of Section 115JB(2) of the IT Act, the assessee company has to follow accounting policies and prepare its P & L account for the relevant previous year in accordance with the provisions of part II & III of schedule IV of the Company Act, 1956 which the assessee company has not followed? Appeal No. 27/2018 1. Whether in ....
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....sets which are not put to use for business purposes? 3. Whether in the facts and circumstances of the case the ITAT is justified in holding that provisions of Section 115JB are not applicable to the assessee company because as per the provision of Section 115JB(2) of the IT Act, the assessee company has to follow accounting policies and prepare its P & L account for the relevant previous year in accordance with the provisions of part II & III of schedule IV of the Company Act, 1956 which the assessee company has not followed? Appeal No. 30/2018 1. Whether in the facts and circumstances of the case the ITAT is justified in holding that provisions of Section 115JB are not applicable to the assessee company because as per the....
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....debited during the year has distorted the profits of the year as the assessee is following mercantile system of accounting and expenditure not related to the previous year cannot be allowed to be deducted from income of the subject previous year. It was further stated by the AO that this expenditure also does not fall under the provisions of section 35D of the Act. Regarding assessee company's contention that the issue has been decided in its favour by the ld. CIT(A) for A.Y. 2002-03, the Assessing Officer stated that since the Revenue is an appeal before the Tribunal against the said order, he is not in a position to follow the order of the ld. CIT(A). Finally, the Assessing Officer, following the past history of the assessee, disallowed t....