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Income Tax Appellate Tribunal, KOLKATA ‘SMC’ BENCH, KOLKATA
Before: Shri P.M. Jagtap
This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-XXIII, Kolkata dated 13.05.2015 for the assessment year 2007-08 on the following grounds:- (1) On the facts and circumstances of the case and in law, the ld. CIT(Appeals) has erred in allowing depreciation of Rs.1,12,570/- on plant and machinery, even though the plant & machinery were not put to use during the relevant financial year
(2) On the facts and circumstances of the case and in law, ld. CIT(Appeals) has erred in treating interest of Rs.16,85,281/- on fixed deposit as income from business though such interest income is required to be taxed under head of income from other sources.
At the time of hearing before me, none has appeared on behalf of the assessee. It is, however, noted from the grounds raised by the ./2015 Assessment year: 2007-2008 Page 2 of 2