DCIT, CIRCLE-35, KOLKATA, KOLKATA vs. M/S. INDIAN COAL AGENCY, KOLKATA

ITA 1258/KOL/2018Status: DisposedITAT Kolkata20 May 2025AY 2015-16Bench: SONJOY SARMA, JUDICIAL MEMBER & SRI RAKESH MISHRA (Accountant Member)28 pages
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What did the Tribunal hold?

The Tribunal dismissed the Revenue's appeal due to low tax effect. For the assessee's appeal, it was held that the net profit calculation and depreciation on motor cars were correctly handled. However, the disallowance under Section 14A was partly erroneous, and the excess commission payment was also found to be an error.

What were the facts?

The assessee filed appeals against orders related to assessment years 2013-14 and 2015-16. The Revenue also filed an appeal for AY 2015-16. The primary issues involved the correctness of the net profit calculation, disallowance under Section 14A, depreciation on motor cars, and commission payments.

What were the issues?

The key issues were whether the Pr. CIT was justified in directing the AO to revise the net profit, disallow expenses under Section 14A, and disallow depreciation on motor cars. The Revenue's appeal questioned the CIT(A)'s treatment of laboratory sampling charges, interest-free loans, and Section 14A disallowance.

Which sections of the Income-tax Act were involved?

Section 14A,Section 40(b)

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Income Tax Appellate Tribunal, KOLKATA ‘C’ BENCH, KOLKATA

Before: SONJOY SARMA & SRI RAKESH MISHRA

PER RAKESH MISHRA, ACCOUNTANT MEMBER:

The captioned appeal for A.Y. 2013-14 and cross appeals for A.Y. 2015-16 filed by the assessee and Revenue are against separate o

The order continues below.

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