.. I-":::>. 0 (,) J: (!)-:I:«z~ a:::«J: 0 Z« ca« Jz~ a.. Income Tax Appeal No. 182 of 2011 1 . ' .11 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. '",--- Income Tax Appeal No. 182 of 2011 Date of decision: 11.7.2011 Commissioner of Income Tax Hisar --- 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 Counsel for the appellant-revenue. AJAY KUMAR MITTAL J. This appeal under Section 260A of the Income-Tax Act, 1961 (for short "the Act") has been filed by the revenue against the order dated 13.8.2010, passed by the Income Tax Appellate Tribunal New Delhi, Bench 'E' (in short "the Tribunal") in ITA No. 1401/0e1/2010, relating to the assessment year 2007-08. The following substantial questions of law have been claimed for determination of this Court: "1- Whether on the facts and in the circumstances of the case, the Hon'ble ITAT is justified in allowing depreciation on capital assets even when capital expeQditure on acquisition of the corresponding assets had already been " r--- ~>~ ~m""';"'~~~'---- / , ~"0;;""""'- ;.,'t"~"'''::i'''~j!r~'' '.'k~-- /"" - : . ,.", '.'. . ..." ,,'" ,I" .' // Income Tax Appeal No. 182 of 2011 ,"; 2 purpos€ of allowing exemption under Section 11 of the Income Tax Act and as such further allowing of depreciation on these capital assets will amount to double deduction for the same expenditure? 2- Whether allowing of depreciation on the capital assets by Hon'ble ITAT is justified in the light of the Hon'ble f\pex Court decision in-the case of Escorts India Ltd. (199 ITR L:J ,:):J 43), wherein it has been held that in the absence of clear statutory indication to the contrary, the statute should not be read as to permit an assessee two deductions on the - ... .~ same expenditure?" ,-- .~ ...... Learned counsel for the revenue fairly conceded that ,~ Z <~ ~~ ,,",,,., tL~ similar questions, as noticed-above, have been adjudicated upon by this Court against the Revenue in Income Tax Appeal No. '535 of 2009 (The Commissioner. of Income Tax, Karnal vs. rJlarket Committee, Pipli), decided on 5.7.2010 and the instant appeal also .-.J... Q Z ~ JJ ~-:( J Z '""",, ",,J :J.. deserves to be disposed of in view of the said decision. In view of the above, the appeal is dismissed. July 11, 2011 *rkmalik*