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

Bench: The Appeal Is Finally Heard Or Disposed Off.

68,20,164/- for certain overdrafts limits and for depreciation, the complete particulars have been given in the audited balance sheet and for which, the Ld. Assessing Officer had not raised any doubt. The total depreciation claimed has been to the tune of Rs. 1,48,84,802/- and the fact that the depreciation is to be allowed, even

DCIT, CHANDIGARH vs. M/S AJAY SANGARI & CO., CHANDIGARH

In the result, the appeal of the Revenue is dismissed

68,810/- (Rs. 47,45,944/- - 21,77,434/-). The salary excess allowed by the partners Rs. 8,70,974/- (Rs. 10,79,904/- - Rs. 19,50,878/-) is under assessment. Tax effect of this omission is Rs. 2,69,130/- besides levy of interest under section 234D is Rs. 86,121/-." 5. Order u/s 154 was passed