The Delhi High Court dismissed the appeal filed by the Principal Commissioner of Income Tax. The Court upheld the ITAT's decision to quash the Section 153A assessment and the disallowance of depreciation, finding no merit in the Revenue's challenge.
Applications stood disposed of and the appeal was dismissed.
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THE PR. COMMISSIONER OF INCOME TAX -CENTRAL - 1 ..... Appellant
Through: Mr. Ruchir Bhatia, SSC along with Mr. Anant Mann, JSC.
versus
METRO TYRES LTD. ..... Respondent
Through: Mr. Salil Kapoor, Mr. Sumit Lalchandani, Ms. Ananya Kapoor and Mr. Tarun Channa, Advs.
CORAM:
HON'BLE MR. JUSTICE YASHWANT VARMA HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV
O R D E R
% 07.05.2024
CM APPL. 22678/2024 (Delay of 14 days in filing) & CM APPL. 22679/2024 (Delay of 95 days in Re-filing)
Bearing in the mind the disclosures made, the delay of 14 days in filing the appeal and the delay of 95 days in re-filing the appeal is condoned.
Applications shall stand disposed of.
ITA 216/2024
This is a digitally signed order.
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Income Tax Act, 1961 on account of an issue raised via audit objection by the Revenue audit party?
2.2 Whether on the facts and circumstances of the case, Ld. ITAT was justified in deleting the disallowance made of excess depreciation claimed on account of non-complete fee which does not fall under the category of section 32(1)(ii) of the Income Tax Act, 1961?”
YASHWANT VARMA, J.
PURUSHAINDRA KUMAR KAURAV, J.
MAY 07, 2024/ RW
This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 10/05/2024 at 11:45:09
2 issues framed by the court
Whether the ITAT was justified in deleting the addition under Section 153A based solely on an audit objection without incriminating material.
Whether the ITAT was justified in deleting the disallowance of excess depreciation for fees not falling under Section 32(1)(ii).
Colour shows how this judgement treated each authority
Commissioner of Income-tax vs. Kabul ChawlaReferred¶24
Commissioner of Income-tax vs. Kabul Chawla [2015 SCC OnLine Del 11555] · Who else cites this
2 provisions across 1 enactments
The Principal Commissioner of Income Tax - Central - 1
Metro Tyres Ltd.
Yashwant Varma
Purus hindra Kumar Kaurav
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
