M/S. DEVELOPMENT CONSULTANTS PVT. LTD. vs. COMMISSIONER OF INCOME TAX, KOLKATA-IV, & ANR.

The appeal is allowed

Bench: :

2 account as a credit entry, the omission to deduct the same while computing the taxable income is a mistake apparent from the record and the Commissioner of Income Tax (Appeals) having held that the Assessing Officer should have done it himself and as such the amount of excess depreciation debited earlier to the profit and loss account and written

PRINCIPAL COMMISSIONER OF INCOME TAX-4, KOLKATA vs. HINDUSTAN GUM AND CHEMICALS LTD

Bench: HON'BLE JUSTICE RAJESH BINDAL, CHIEF JUSTICE (ACTING),HON'BLE JUSTICE ANIRUDDHA ROY

depreciation without considering the third proviso to section 32(1)(ii) which came into effect on 1st April, 2016 by virtue of the Finance Act, 2016 without retrospective effect ? (iv) Whether on the facts and circumstances of the case the Learned Income Tax Appellate Tribunal is justified in law in properly not applying the test of application of ITAT/40/2020

PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA-5, KOLKATA vs. M/S MERLIN RESOURCES PRIVATE LIMITED

Bench: HON'BLE JUSTICE I. P. MUKERJI,HON'BLE JUSTICE MD. NIZAMUDDIN

depreciation without considering the third proviso to section 32(1)(ii) which came into effect on 1st April, 2016 by virtue of the Finance Act, 2016 without retrospective effect ? (iv) Whether on the facts and circumstances of the case the Learned Income Tax Appellate Tribunal is justified in law in properly not applying the test of application of ITAT/40/2020

PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL 1 KOLKATA vs. M/S RAMKRISHNA FORGINGS LTD

In the result the appeal is partly allowed

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 8Th February, 2023 Appearance : Mr. Tilak Mitra, Adv. …For Appellant Mr. S.M. Surana, Adv. Ms. Sapna Das, Adv. Mr. S. Das, Adv. …For Respondent

depreciation was claimed in preceding assessment year on new plant and machinery which was put to use for less than 180 days, ignoring the reasoned order of the A.O. and relying on the assessee’s submission ? ii) WHETHER the Learned Tribunal has erred in law in holding that forex loss is allowance as expenditure under section