DCIT, Cir-9(1), Kolkata vs. M/S Lumbini Beverages Pvt. Ltd., Kolkata
ITA 422/KOL/2016[2003-2004]Status: DisposedITAT Kolkata16 Mar 2018AY 2003-2004
Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi, Judical Member] I.T.A. No. 422/Kol/2016 Assessment Year: 2003-04 D.C.I.T. Circle-9(1), Kolkata….…………………………………………….…….……………...Appellant Ayakar Bhawan 5Th Floor Room No. 22 P-7, Chowringhee Square Kolkata – 700 069 M/S. Lumbini Beverages Pvt. Ltd...……………………...………………………….......…Respondent 41, Chowringhee Square Kolkata – 700 071 [Pan : Aaacl 5205 F] Appearances By: Shri Girish Sharma, Fca, Appeared On Behalf Of The Assessee. Shri D.C. Mondal, Jcit, Dr Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : January 11Th, 2018 Date Of Pronouncing The Order : March 16Th, 2018 O R D E R Per J. Sudhakar Reddy :-
Section 143(1)Section 143(3)Section 147Section 148Section 250
…it as revenue item. Total item transferred was Rs.50,01,497/-. What it implies that for a similar expenditure, part expenses were claimed as depreciation and part as Leakage & Breakage. It was well settled in the case of CIT v. Vallabh Glass Works Ltd. [1982J 137 ITR 389 (GUJ.), expenditure of identical nature cannot be regarded as revenue expenditure for one purpose and capital expenditure for another. Assessee should had claimed it either fully under depreciation or under leakage & breakage. Moreover, depreciation @50% has been provided under Income-tax Act, to negate the effect of high rate of breakage of bott…
