Principal Commissioner of Income-tax, Delhi-2 v. Cenral Electronics Ltd
[Citation -2020-LL-0204-24]

Citation 2020-LL-0204-24
Appellant Name Principal Commissioner of Income-tax, Delhi-2
Respondent Name Cenral Electronics Ltd.
Court HIGH COURT OF DELHI AT NEW DELHI
Relevant Act Income-tax
Date of Order 04/02/2020
Assessment Year 2006-07
Judgment View Judgment
Keyword Tags unabsorbed depreciation


$ 39. * IN HIGH COURT OF DELHI AT NEW DELHI + ITA 53/2020 PRINCIPAL COMMISSIONER OF INCOME TAX, DELHI-2 Appellant Through: Ms. Vibhooti Malhotra and Mr. Shailendera Singh, Advocates. versus M/S CENRAL ELECTRONICS LTD Respondent Through: CORAM: HON'BLE MR. JUSTICE VIPIN SANGHI HON'BLE MR. JUSTICE SANJEEV NARULA ORDER % 04.02.2020 C.M. No. 4188/2020 Exemption allowed, subject to all just exceptions. application stands disposed of. ITA 53/2020 and C.M. No. 4189/2020 Revenue appeals against order dated 16.05.2019 passed by Income Tax Appellate Tribunal, Delhi, B Bench, New Delhi in ITA No.4102/Del/2016. Revenue had preferred said appeal against order of Commissioner of Income Tax (Appeals) 2, New Delhi, dated 23.03.2016 pertaining to Assessment Year 2006-07. sole issue raised by Revenue before ITAT was whether CIT (Appeals) was justified in deleting addition of Rs.6,78,59,423/- on account of unabsorbed depreciation claimed for Assessment Year 1997-98 under Section 32(2) of Income Tax Act. ITAT has placed reliance on two decisions, namely decision of Gujarat High Court in M/s General Motors India Pvt. Ltd. Vs. DCIT, (2013) 354 ITR 244 (Gujarat), which has been followed by this Court in Motor & General Finance Limited Vs. ITO, (2017) 80 Taxxman.com 14 (Del). This Court has also considered said issued in PCIT-2 Vs. British Motor Car Co. (1934) Limited, ITA No.1031/2017 decided on 09.01.2018, thereby holding in favour of assessee that assessee is entitled to avail of unabsorbed depreciation beyond period of eight years which was prescribed under unamended Section 32 of Act. In view of aforesaid, no substantial question of law arises for consideration in present appeal. Dismissed. VIPIN SANGHI, J SANJEEV NARULA, J FEBRUARY 04, 2020 B.S. Rohella Principal Commissioner of Income-tax, Delhi-2 v. Cenral Electronics Ltd
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