SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

ITA 1517/JPR/2024Status: DisposedITAT Jaipur24 June 2025AY 2019-2020Bench: DR. S. SEETHALAKSHMI (Judicial Member)192 pages
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What did the Tribunal hold?

The Tribunal allowed the assessee's claim for the benefit of indexed cost of acquisition while computing book profit under Section 115JB, following various High Court and Tribunal precedents. The other grounds were not explicitly detailed in the provided excerpt.

What were the facts?

The assessee, Shree Cement Limited, appealed against the disallowance of delayed provident fund contributions and the confirmation of disallowance of health and education cess for computing book profit. The assessee also sought to raise additional grounds related to Section 80-IA deductions, capital receipts, depreciation, and indexation benefits.

What were the issues?

Whether delayed provident fund contributions are disallowable and if indexation benefit is available for computing book profit under Section 115JB.

Which sections of the Income-tax Act were involved?

Section 36(1)(va),Section 115JB,Section 80-IA,Section 32(1)(ii),Section 48,Section 45,Section 112,Section 2(24)

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Income Tax Appellate Tribunal, JAIPUR BENCHES,”A” JAIPUR

Before: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, vk;dj vihy la-@ITA No. 1517/JP/2024

For Appellant: Shri Dilip B. Desai, FCA jktLo dh vksj ls@
Hearing: 16/04/2025Pronounced: 24/06/2025

PER: RATHOD KAMLESH JAYANTBHAI, AM

Aforesaid appeal by the assessee for Assessment year 2019-20 arise out of the order of the learned Addl./Joint Commissioner of Income Tax (Appeals)-02, Gurugram, National Faceless Appeal Centre [ for short CIT(A) ] dated 19.11.2024 in the matter of an order framed by Assistant Director of Income Tax, CPC, Bangalore [ for short AO ] as per prov

The order continues below.

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