V2 Retail Limited(Formerly Known As Vishal Retail Ltd), Kolkata vs. J.C.I.T (OSD) Under-IV, Kolkata
In the result, the appeal of assessee is partly allowed for statistical purposes
ITA 2413/KOL/2013[2009-10]Status: DisposedITAT Kolkata01 Jun 2016AY 2009-10
Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am]
For Appellant: S/Shri K.K.Chhaparia, FCA & Nirav Seth, ACAFor Respondent: Shri S. S. Alam, JCIT, Sr. DR
Section 143(3)Section 32Section 32(1)(iia)
…nufacturing company.” 2.3. The Ld. AR reiterated the same submissions as submitted before the lower authorities. In addition, he placed reliance on the following decisions: (i) CIT Vs. V T M Ltd. 319 ITR 336 (Madras) & (ii) CIT Vs. Diamines & Chemicals Ltd. 271 CTR 98 (Guj). In both the decisions it was held that provisions of section 32(1)(iia) of the act does not state setting up of new plant and machinery which should have any operational connectivity to the article or thing that was already being manufactured by the assessee. 2.4. In response to this, Ld. DR argued that the assessee’s case falls in the fi…
