ACIT CIRCLE-2, ALLAHABAD vs. M/S SHERWANI SUGAR SYNDICATE LTD., ALLAHABAD
In the result, appeal filed by the Revenue in ITA No
ITA 227/ALLD/2016[1997-98]Status: DisposedITAT Allahabad24 Dec 2021AY 1997-98
Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year: 1997-98 The Assistant Commissioner Of V. M/S Shervani Sugar Syndicate Income-Tax, Circle-2, Ltd., Allahabad, U.P. 28, South Road , Allahabad,U.P. Pan/Gir: 19-653-Cv-3480 New Pan: Not Available (Appellant) (Respondent)
For Appellant: Sh. A.K. Singh, Sr. DRFor Respondent: Sh. Ashish Bansal Adv
Section 143(2)Section 143(3)Section 44A
depreciation u/s 32 of the 1961 Act on the interest being capitalized , even though presently as claimed by assessee, the interest is capitalized by debiting to Capital Work in progress and not debited presently to P&L
Account(which also requires verification ) . Since, all these aspects were never looked into by ld. CIT(A) , and hence the appellate order passed
