H. M. CEMENT PRIVATE LIMITED,GUWAHATI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-SHILLONG, SHILLONG

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ITA 283/GTY/2019Status: DisposedITAT Guwahati30 August 2022AY 2016-175 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal confirmed the disallowance of depreciation, agreeing that the assessee failed to provide evidence of manufacturing activity or a genuine attempt to restart the business. The company had admitted to shifting to trading in agricultural products due to losses.

What were the facts?

The assessee, H.M. Cement Private Limited, claimed depreciation on plant and machinery and buildings. The Assessing Officer disallowed this claim, stating the company had ceased manufacturing activities and was not genuinely attempting to restart its business. The CIT(A) upheld this disallowance.

What were the issues?

Whether depreciation can be allowed on assets when the business has ceased manufacturing activities and there is no evidence of a genuine attempt to restart.

Which sections of the Income-tax Act were involved?

Section 143(2),Section 142(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA

Before: Shri Manish Borad, & Shri Sonjoy Sarma

आदेश खुले �यायपीठ म� �दनांक 30-08-2022 को उ�घो�षत। The order pronounced in the open Court on 30 -08-2022

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