Commissionerhisar v. Market Committee, Ratia

.. "I-:::>. a.. . IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. Income Tax Appeal No. 182 of 2011Date of decision:11.7.2011 of Income Tax CommissionerHisar --- Appellant Versus Market Committee, Ratia --- Respondent CORAM:HON'BLE MR. JUSTICE ADARSH KUMAR GOE~ACTING CHIEF JUSTICE. . HON'BLE MR. JUSTICE AJAY KUMAR MITTAL Present:Mr. Yogesh Putney, Senior Standing Counselfor the appellant-revenue.for the appellant-revenue. AJAY KUMAR MITTAL J. This appeal under Section 260A of the Income-TaxAct,1961 (for short "the Act") has been filed by the revenue against theorder dated 13.8.2010, passed by the Income Tax Appellate TribunalNewDelhi,Bench'E'(inshort"theTribunal")inITANo.1401/0e1/2010, relating to the assessment year 2007-08. Thefollowingsubstantialquestionsof law havebeenclaimed for determinationof this Court:"1-Whetheron the factsand in the circumstancesof thecase, the Hon'ble ITAT is justified in allowing depreciationoncapitalassetsevenwhencapitalexpeQditureonacquisitionof the correspondingassets had already been "~"0;;""""'-;.,'t"~"'''::i'''~j!r~'''.'k~--,/""-: . ,.", '.'.....",,'"r---/,I".'2//Income Tax Appeal No. 182 of 2011,";purpos€ofallowing exemptionunder Section11 of the Income TaxAct and as such further allowing of depreciationon thesecapitalassetswill amountto doubledeductionfor thesame expenditure?~>~2-Whetherallowing of depreciationon the capital assetsbyHon'ble ITAT is justified in the light of the Hon'ble f\pexCourt decisionin-the caseof EscortsIndia Ltd. (199 ITR43), wherein it has been held that in the absence of clearL:Jstatutory indication to the contrary, the statute should not,:)-:Jbe read as to permit an assesseetwo deductions on the....~same expenditure?",--.~......Learnedcounselfor therevenuefairly concededthat,~Zsimilar questions, as noticed-above, have been adjudicated upon by<~~~,,",,.,tLthis Court against the Revenue in Income Tax Appeal No. '535 of~.-.J...2009(The Commissioner.of IncomeTax, Karnalvs.rJlarketQCommittee,Pipli), decided on 5.7.2010 and the instant appeal alsoZ~deserves to be disposed of in view of the said decision.JJ~-:(In view of the above, the appeal is dismissed.JZ'""",,",,J:J.. ~m""';"'~~~'---- July 11, 2011*rkmalik*