M/S Medi Drips Carries Pvt. Ltd., Kolkata vs. ITO, WD-12(4), Kolkata
In the result, the appeal filed by the assessee is dismissed
ITA 471/KOL/2014[2008-2009]Status: DisposedITAT Kolkata08 Mar 2017AY 2008-2009
Bench: Shri N.V.Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.471/Kol/2014 ("नधा"रण वष" /Assessment Year:2008-2009) M/S Medi Drips Carries Pvt. Ltd Vs. Ito, Ward-12(4), 8Th Floor, R.No.818, P-7, Chowringhee Square, 4, Synagogue Street, Aayakar Bhawan, Kolkata-700001 Kolkata-700069 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.: Aabcm 8139 Q .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee By : Shri Ashish Rustogi, Aca Revenue By : Shri Saurav Kumar, Jcit सुनवाई क" तार"ख / Date Of Hearing : 01/03/2017 घोषणा क" तार"ख/Date Of Pronouncement 08/03/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Assessee Pertaining To Assessment Year 2008-09, Is Directed Against The Order Passed By Ld. Cit(A)-Xii, Kolkata, In Appeal No.490/Xii/12(4)/10-11, Dated 11.11.2013, Which In Turn Arises Out Of An Order Passed By The Assessing Officer (Ao) Under Section 143(3) Of The Income Tax Act 1961, (Hereinafter Referred To As The ‘Act’), Dated 28.12.2010. 2. The Said Captioned Appeal Filed By The Assessee Is Time Barred By Four Days. The Assessee Filed The Petition For Condonation Of Delay & Expressed The Reasons Of Delay. After Verification Of Petition We Found That There Was A Reasonable Cause For Four Days Delay In Filing The Appeal. Even Ld Dr Did Not Object To Condone The Delay. Therefore, We Condone The Delay & Admit The Appeal For Hearing. 3. Brief Facts Of The Case Qua The Assessee Are That The Assessee Company Filed Its Return Of Income On 30.09.2008. Subsequently The 2 M/S Medi Drips Carries Pvt. Ltd. Assessee Company Filed Its Revised Return Of Income On 9-12-2008
For Appellant: Shri Ashish Rustogi, ACAFor Respondent: Shri Saurav Kumar, JCIT
Section 115Section 115JSection 143(3)
…n, depreciation under new method can be claimed prospectively only from the date the change has been effected and the arrears of depreciation cannot be deducted for the purpose of computation of book profit under s. 115J." In CIT v. Steriplate (P) Ltd.(2011) 338 ITR 547(P&H), it has been held that by virtue of c1.(i) of Explanation 1 to sub s. (2) of s. 115JB,as inserted by Finance (No.2) Act, 2009 retrospectively from 1 st April, 2001, any amount set aside as provision for dimunition in the value of any asset would not reduce the book profit of an assessee for assessment year 2002-03. In the case of Indo Rama S…
