CREST SPECIALITY RESINS PRIVATE LIMITED,KHEDA, GUJARAT vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1)(2), AHMEDABAD (NOW DCIT, CIRCLE 1(1)(1), AHMEDABAD), AHMEDABAD, GUJARAT

ITA 1583/AHD/2024Status: DisposedITAT Ahmedabad15 May 2025AY 2015-16Bench: SMT. ANNAPURNA GUPTA (Accountant Member), SHRI SIDDHARTHA NAUTIYAL (Judicial Member)18 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the requirement of quantification in Form 3CL was not applicable for the assessment year in question and that electrical installations are eligible for depreciation at 15% as part of Plant and Machinery.

What were the facts?

The assessee claimed weighted deduction for R&D expenditure and depreciation on electrical installations. The Assessing Officer and CIT(A) restricted these claims, leading to the present appeals.

What were the issues?

Whether weighted deduction for R&D expenditure can be denied for non-quantification in Form 3CL and whether electrical installations qualify for depreciation as Plant and Machinery at 15%.

Which sections of the Income-tax Act were involved?

Section 35(2AB),Section 40A(2)(b),Section 37(1),Section 35(1),Section 250

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Income Tax Appellate Tribunal, “B” BENCH, AHMEDABAD

Before: SMT. ANNAPURNA GUPTA & SHRI SIDDHARTHA NAUTIYAL

For Appellant: Ms. Amrin Pathan, A.R
For Respondent: Shri B. P. Srivastava, Sr. D.R
Pronounced: 15.05.2025

PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER:

These appeals have been filed by the Assessee against the orders passed by the Ld. Commissioner of Income Tax (Appeals), (in short “Ld. CIT(A)”), National Faceless Appeal Centre (in short “NFAC”), Delhi vide orders dated 09.05.2024 passed for A.Ys. 2015-16 & 2016-17. Since common facts and issues for consideration are involved for both the years under consideration, both appeals filed by the assessee are being taken up together.

First we shall deal with Assessee’s Appeal in ITA No. 1583/Ahd/2024 (A.Y. 2015-16)

2.

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The order continues below.

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