ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), AHMEDABAD vs. MAHALAXMI INFRACONTRACT PRIVATE LIMITED, AHMEDABAD

ITA 486/AHD/2023Status: DisposedITAT Ahmedabad31 May 2024AY 2018-19Bench: SHRI RAMIT KOCHAR (Accountant Member), Ms. MADHUMITA ROY (Judicial Member)26 pages
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What did the Tribunal hold?

The Tribunal restored the issue of whether interest on service tax, VAT, GST, and entry tax paid by the assessee is compensatory or penal in nature to the Assessing Officer for verification. The disallowance on account of interest on TDS was confirmed.

What were the facts?

The Revenue appealed against the deletion of disallowance on higher depreciation on plant and machinery. The assessee claimed higher depreciation on dumpers and tippers used for transportation of excavated earth or minerals for hire.

What were the issues?

Whether dumpers and tippers used for transportation of goods of third parties for hire are eligible for higher depreciation. Whether interest paid on delayed payment of service tax, VAT, GST, and entry tax is compensatory or penal in nature.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144B,Section 37(1)

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Income Tax Appellate Tribunal, “B” BENCH, AHMEDABAD

Before: SHRI RAMIT KOCHAR&

For Appellant: Shri S. N. Divatia & Shri B. K. Patel, Shri Sudhendu Das, CIT. DR

PER Ms. MADHUMITA ROY - JM:

The instant three appeals filed by the Revenue are directed against the orders all dated 14.03.2023 passed by Ld. Commissioner of Income Tax (Appeals)-11, Ahmedabad (in short ‘CIT(A)’) arising out of the orders dated 27.12.2017, 21.12.2019 & 02.09.2021 passed by the Assessing Officer (AO), Ahmedabad under Section 143(3) (in A.Ys. 2015-16 & 2017-18) & under ITA Nos. 484 to 486/Ahd/2023 (ACIT Vs. Mahalaxmi Inferacontract Pvt. Ltd.) A.Ys.–

The order continues below.

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