ACIT, C-7, LUDHIANA vs. M/S CEIGALL INDIA LTD., LUDHIANA
In the result appeal of the Department is partly allowed for statistical purposes and the Cross Objection of the assessee is dismissed
ITA 291/CHANDI/2019[2014-15]Status: DisposedITAT Chandigarh19 Nov 2020AY 2014-15
Bench: The Appeal Is Finally Heard Or Disposed Off.
For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. C. Chandrakanta, CIT
Section 133ASection 145(3)Section 69C
depreciation is to be allowed from the income determined by applying the net profit rate of 6.5%.
21. Vide ground no. 3 the grievance of the Department relates to the deletion of addition of Rs. 84,19,383/- made by the A.O. by invoking the provisions of section 69C of the act.
22. The facts related to this issue