VALEO INDIA PRIVATE LIMITEDQ,CHENNAI vs. DCIT, CORPORATE CIRCLE 3(1),CHENNAI, CHENNAI

ITA 3421/CHNY/2025Status: DisposedITAT Chennai08 June 2026AY 2017-189 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that there is no prohibition in claiming both deduction under Section 32AC and depreciation under Section 32 simultaneously as they operate in distinct fields. The Tribunal also held that the provident fund contribution was paid within the extended due date, making the disallowance unwarranted.

What were the facts?

The assessee claimed deduction under Section 32AC and also depreciation on plant and machinery. The AO disallowed depreciation on the ground of double benefit, which was confirmed by the CIT(A). The assessee also had a disallowance regarding provident fund contribution, where partial relief was granted by the CIT(A).

What were the issues?

Whether an assessee can claim both deduction under Section 32AC and depreciation under Section 32 on the same investment. Whether disallowance of provident fund contribution is warranted when paid within the extended due date.

Which sections of the Income-tax Act were involved?

Section 32AC,Section 32,Section 36(1)(va)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH: CHENNAI

Before: SHRI SS VISWANETHRA RAVI & MS. PADMAVATHY.S

For Respondent: Mr. L.Christopher Vasanth, JCIT

PER PADMAVATHY.S, A.M: This appeal by the assessee is against the order of the Commissioner of Income Tax (Appeals), Chennai -16 (in short "CIT(A)") passed u/s. 250 of the Income Tax Act, 1961 (in short "the Act") dated 24.09.2025 for Assessment Year (AY) 2017-18. The grounds of appeal raised by the assessee are as under: Valeo India Pvt. Ltd. :- 2 -:

“1. General

The order passed by National e- Assessment Centre, Delhi (Ld. AO' or '

The order continues below.

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