NAHAR POLY FILMS LIMITED,LUDHIANA vs. DCIT, CIRCLE-1, LUDHIANA
In the result, the appeal is allowed
ITA 458/CHANDI/2023[2015-16]Status: DisposedITAT Chandigarh19 Aug 2024AY 2015-16
Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 458/Chd/2023 "नधा"रण वष" / Assessment Year: 2015-2016 Nahar Poly Films Limited, Vs. The Dcit, बनाम 375, Industrial Area-A, Circle-1, Ludhiana 141003 Aayakar Bhawan, Rishi Nagar, Ludhiana "थायी लेखा सं./Pan No: Aaacn5708K अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Sh. Navdeep Sharma, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 29.05.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 19.08.2024 आदेश/Order Per Dr. Krinwant Sahay, A.M.:
For Appellant: Sh. Navdeep Sharma, AdvocateFor Respondent: Smt. Kusum Bansal, CIT DR
Section 14Section 14A
depreciation is also to be restricted to be 50%. The AO was therefore correct in his stand.
Appellant's appeal is dismissed”.
The ld. Counsel of the Assessee submitted that this issue is 20. squarely covered by the order of the Chandigarh Bench in the case of sister concern ‘M/s Nahar Industrial Enterprises Ltd. vs. The Addl
