Income Tax Appeal dismissed. Court held that depreciation cannot be claimed on assets in a defunct unit as they were not put to use. Appeal and delay condonation petition dismissed due to lack of merit.
Appeal and delay condonation petition were dismissed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE C.N.RAMACHANDRAN NAIR &
THE HON'BLE MR. JUSTICE BABU MATHEW P.JOSEPH
THURSDAY, THE 23RD DAY OF FEBRUARY 2012/4TH PHALGUNA 1933
ITA.No. 19 of 2012 ()
[ITA. NO. 454/COCH/2008 of I.T.A.TRIBUNAL,COCHIN BENCH]
APPELLANT/ASSESSEE/APPELLANT:
M/S.T.C.M. LTD., PB NO. 19, KALAMASSERY 683104. PRESENTLY AT 32/1111 SNIGDHA, CHATHANGAT CROSS ROAD, PALARIVATTOM, COCHIN-25 REPRESENTED BY ITS MANAGING DIRECTOR, JOSEPH VARGHESE.
BY ADVS.SRI.C.K.KARUNAKARAN
SMT.T.P.LEKSHMI VARMA SRI.ANOOP JOSE (PALAMATTOM) SRI. P. BALAKRISHAN
RESPONDENT/REVENUE/RESPONDENT:
1 THE COMMISSIONER OF INCOME TAX, KOCHI.
R1 BY SRI. JOSE JOSEPH, SC
THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 23-02-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
DST
ITA.No. 19 of 2012 () ---------------------
APPENDIX
PETITIONER'S ANNEXURES :-
| ANNEXURE A: COPY OF THE THE ASSESSI 2004-05. |
ASSESSMENT NG OFFICER |
ORDER DATED 20.12.2006 OF FOR THE ASSESSMENT YEAR |
|---|---|---|
| ANNEXURE B: COPY OF THE COMMISSIONER |
ORDER DATED OF INCOME |
12.12.2007 OF THE TAX (APPEALS), KOCHI. |
| ANNEXURE C: COPY OF THE TAX APPELLAT 454/COCH/200 |
ORDER DATED E TRIBUNAL, 8. |
14.03.2011 OF THE INCOME COCHIN BENCH IN ITA NO. |
RESPONDENTS' EXHIBITS : NIL
// TRUE COPY//
P.A. TO JUDGE
DST
C.N. RAMACHANDRAN NAIR &
BABU MATHEW P. JOSEPH, JJ.
C.M.Appl. No. 86 of 2012 & I.T.A. No. 19 of 2012
Dated this the 23rd day of February, 2012
JUDGMENT
Ramachandran Nair, J.
Appeal is filed with a delay of 206 days. While considering the delay petition, we have also heard the case on merit. The only issue raised is against disallowance of depreciation in respect of plant and machinery consisting of block of estate in a defunct unit. The basic concept for depreciation is deduction for wear and tear for use. Obviously, the assets in defunct unit are not entitled to depreciation as those are not put to use. Consequently, the Tribunal, in our view, rightly declined the depreciation claimed on part of block of assets not used in business.
2
[I.T.A.No.19/2012]
Sd/-
C.N. RAMACHANDRAN NAIR,
JUDGE
Sd/-
BABU MATHEW P. JOSEPH, JUDGE.
krs.
2 issues framed by the court
Whether depreciation can be claimed on plant and machinery in a defunct unit not used in business.
Whether the appeal should be allowed despite a delay of 206 days in filing.
1 provisions across 1 enactments
The Commissioner of Income Tax, Kochi
C.N. Ramachandran Nair
Babu Mathew P. Joseph
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
