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2 results for “depreciation”+ Section 40A(7)clear

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Key Topics

Section 80I3Section 22Depreciation2Addition to Income2

PRINCIPAL COMM OF INCOME TAX, ASANSOL vs. M/S EASTERN COALFIELDS LTD

Accordingly, the appeal fails and it is dismissed

ITAT/230/2017HC Calcutta14 Dec 2021

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 260Section 32Section 40A(9)

7,19,12,000/- for the A.Y. 2003-04, Rs. 5,82,73,000/- for the A.Y. 2004-05, and Rs. 5,92,06,000/- for the A.Y. 2005-06 respectively claimed separately under the head “Social Overhead” over and above depreciation

PRINCIPAL COMMISIONER OF INCOME TAX CENTRAL 1 KOLKATA vs. M/S SHALIMAR PELLET FEEDS LIMITED

In the result, the substantial questions of law framed

ITAT/29/2021HC Calcutta04 Apr 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 2Section 260ASection 40A(2)(b)Section 80I

40A(2)(b) of the Income Tax Act, 1961 to M/s. Shalimar Hatcheries Ltd. as submitted by the assessee itself ? v) Whether the Income Tax Appellate Tribunal erred in allowing 30% depreciation amounting to 3 Rs.14,68,279/- in the Assessment Year 2009-10 as claimed by the assessee since the same is entitled to 15% on lorries, which