Itxa.822.12.11 v. Union Of India Reported In (1993) 199 Itr 43 (Sc

kps IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.822 OF 2012 The Director of Income Tax. ..Appellant -Versus-Parmeshwaridevi Gordhandas GarodiaCharitable Trust. ..Respondent ........... Ms.Sangita Yadav i/by Mr.Suresh Kumar, for the Appellant.Dr.K.Shivram, Senior Advocate with Mr.Rahul Hakani i/by Paras S. Savla, for the Respondent. ........... CORAM: S.C. DHARMADHIKARI AND A.K. MENON, JJ. DATE :- 12[th] September, 2014 P.C.: 1In this Appeal the Revenue challenges the order of the Income Tax Appellate Tribunal dated 10.08.2011. The Assessment Year in question is 2007-2008. 2It is stated that the Appeal raises two substantial questions of law. They are formulated by the Revenue at pages 3 and 4 of the paper book. 3The relevant facts and which have been set out in the memo of Appeal itself are that the Assessee filed its Return of Income on 29.10.2007 along with the income and expenditure account, balance sheet and audit report in Form No.10B declaring total deficit of Rs.90,13,311/-. The Assessee claimed to be a charitable trust and is administering and managing the educational institutions. It is granted such status under Section 12A of the Income Tax Act, 1961. 4During the course of the assessment proceedings the Assessing Officer deleted the addition made on account of disallowance of itxa.822.12.11 depreciation inspite of the fact that the Assessee had already claimed capital expenditure on assets as expenses and the claim of depreciation on assets was in addition to the capital expenditure claimed. In doing so, the Assessing Officer is stated to have ignored and not abide by the binding judgment of the Honourable Supreme Court of India in the case of Escorts Limited v/s Union of India reported in (1993) 199 ITR 43 (SC). 5Aggrieved by the same, the Assessee approached the Commissioner of Income Tax (Appeals) and the said appeal was allowed. Then, the Revenue approached the Tribunal and the Tribunal having dismissed it's appeal that the Revenue invoked Section 260A of the Income Tax Act, 1961. 6What we find is that the view taken by the Tribunal and consistent with that of the Commissioner of Income Tax (Appeals) has been approved by this Court in the case of Commissioner of Income Tax v/s Institute of Banking reported in (2003) 264 ITR 110 (Bom). 7Dr.Shivram, learned Senior Counsel appearing for the Respondent/ Assessee, has placed before us a copy of this judgment and which we have carefully perused. We find that the said view has been referred in a later Division Bench judgment in the case of Director of Income Tax (Exemption) v/s GKR Charities in Income Tax Appeal(Lodging) No.2060/2012 decided on 08.03.2013. Having found that the Tribunal has merely followed the judgments of this Court and refused to interfere with the order of the Commissioner of Income Tax (Appeals) and in identical facts and circumstances that we are of the opinion that the present Appeal does not raise any substantial question of law. It is, accordingly, dismissed. No costs. (A.K. MENON, J.) (S.C. DHARMADHIKARI, J.)