M/S RADHIKA WATER & AMUSEMENT PARK INDS,,BILASPUR(CG) vs. I.T.O. WARD 1(2), BILASPUR(CG)

ITA 320/BIL/2014Status: DisposedITAT Raipur12 May 2023AY 2005-06Bench: SHRI RAVISH SOOD (Judicial Member)20 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The ITAT allowed the claim for depreciation based on Explanation 5 to Section 32(1) of the Act. The Tribunal also set aside the disallowance of salary expenses, finding it to be arbitrary and lacking material support from the AO.

What were the facts?

The assessee's case was selected for scrutiny assessment, leading to additions and disallowances by the Assessing Officer (AO). The Commissioner (Appeals) partly allowed the assessee's appeal, confirming some additions and scaling down others. The assessee then appealed to the ITAT.

What were the issues?

The key issues were the allowability of depreciation despite not being claimed initially and the justification for disallowing a portion of salary expenses on an ad-hoc basis.

Which sections of the Income-tax Act were involved?

Section 32(1),Section 68,Section 143(3),Section 37(1)

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Income Tax Appellate Tribunal, RAIPUR BENCH “SMC”, RAIPUR

Before: SHRI RAVISH SOOD

For Appellant: Shri G.S. Agrawal, CA
For Respondent: Shri Piyush Tripathi, Sr. DR
Hearing: 08.05.2023Pronounced: 12.05.2023

PER RAVISH SOOD, JM The present appeal filed by the assessee is directed against the order passed by the Commissioner of Income-Tax (Appeals), Bilaspur dated 18.06.2014, which in turn arises from the order passed by the A.O under Sec.143(3) of the Income-tax Act, 1961 (in short ‘the Act’) dated 28.12.2007 for the assessment year 2005-06. The assessee has assailed the impugned order on the following grounds of appeal:

“1. In the facts and circumstances of the case,

The order continues below.

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