M/S PREMIER IRRIGATION ADRITEC (P) LTD.,KOLKATA vs. ACIT, CIR-11(1), KOLKATA , KOLKATA

In the result, the appeal of the assessee is dismissed

Bench: Shri Sanjay Garg & Shri Girish Agrawal

gains of business or profession’. The interest on late payment of TDS, is not covered either under the provision of sections 30 to 36 of the Act, nor it qualifies as expenditure wholly and exclusively incurred for the purpose of business or profession u/s 37 of the Act. Even u/s 36(1) (iii) of the Act, the amount of interest

M/S.G.S. ATWAL & CO.(ENGG)(P)LTD,KOLKATA vs. DCIT, CIR-11(1), KOLKATA

In the result, both the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

gains of business or profession'. The interest on late payment of TDS, is not covered either under the provision of sections 30 to 36 of the Act, nor it qualifies as expenditure wholly and exclusively incurred for the purpose of business or profession u/s 37 of the Act. Even u/s 36(1)(iii) of the Act, the amount of interest

M/S.G.S. ATWAL & CO.(ENGG) (P)LTD.,KOLKATA vs. DCIT, CIR-11(1), KOLKATA

In the result, both the appeals of the assessee are dismissed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

gains of business or profession'. The interest on late payment of TDS, is not covered either under the provision of sections 30 to 36 of the Act, nor it qualifies as expenditure wholly and exclusively incurred for the purpose of business or profession u/s 37 of the Act. Even u/s 36(1)(iii) of the Act, the amount of interest

M/S. DEEPAK INDUSTRIES LTD.,KOLKATA vs. DCIT, CIRCLE - 6(1), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

36(1)(va) in respect of delayed deposit of amount collected towards employees’ contribution to PF cannot be claimed when deposited within the due date of filing of return even when read with Section 43B of the Income-tax Act,1961.” By following the decision of Hon’ble Supreme Court, the issue no. 1 to 4 are goes against

M/S. DEEPAK INDUSTRIES LTD.,KOLKATA vs. DCIT, CIRCLE-6(1), KOLKATA, KOLKATA

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

36(1)(va) in respect of delayed deposit of amount collected towards employees’ contribution to PF cannot be claimed when deposited within the due date of filing of return even when read with Section 43B of the Income-tax Act,1961.” By following the decision of Hon’ble Supreme Court, the issue no. 1 to 4 are goes against

THE WEST BENGAL POWER DEVELOPMENT CORPORATION LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-4(2), KOLKATA

In the result, all the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

capital work-in- progress and was never charged to the profit and loss account and, therefore, the provisions of section 43B of the Act are not applicable. We accordingly set aside the order of the ld. CIT(Appeals) and direct the ld. Assessing Officer to delete the disallowance of Rs. 17,29,58,525/-. Consequently ground no. 1 is allowed

THE WEST BENGAL POWER DEVELOPMENT CORPORATION LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-4(2), KOLKATA

In the result, all the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

capital work-in- progress and was never charged to the profit and loss account and, therefore, the provisions of section 43B of the Act are not applicable. We accordingly set aside the order of the ld. CIT(Appeals) and direct the ld. Assessing Officer to delete the disallowance of Rs. 17,29,58,525/-. Consequently ground no. 1 is allowed

THE WEST BENGAL POWER DEVELOPMENT CORPORATION LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-4(2), KOLKATA

In the result, all the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

capital work-in- progress and was never charged to the profit and loss account and, therefore, the provisions of section 43B of the Act are not applicable. We accordingly set aside the order of the ld. CIT(Appeals) and direct the ld. Assessing Officer to delete the disallowance of Rs. 17,29,58,525/-. Consequently ground no. 1 is allowed

THE WEST BENGAL POWER DEVELOPMENT CORPORATION LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-4(2), KOLKATA

In the result, all the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma

capital work-in- progress and was never charged to the profit and loss account and, therefore, the provisions of section 43B of the Act are not applicable. We accordingly set aside the order of the ld. CIT(Appeals) and direct the ld. Assessing Officer to delete the disallowance of Rs. 17,29,58,525/-. Consequently ground no. 1 is allowed

AURELIA HOUSING CO-OPERATIVE SOCIETY LTD. ,KOLKATA vs. ITO, WARD-49(4), KOLKATA. , KOLKATA

In the result, appeal of the assessee is dismissed

Bench: Dr. Manish Borad, Hon’Ble & Shri Pradip Kumar Choubey, Hon’Blei.T.A. No. 1138/Kol/2023 Assessment Year: 2017-18 Aurelia Housing Co-Perative Income Tax Officer, Ward-49(4), Society Ltd. Vs Kolkata Premises No.-30 2222, Plot No. Cd-19 Action Area-I Major Arterial Road New Town Kolkata - 700156 [Pan : Aaaba0803F] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : None Revenue By : Shri Prabhas Roy, Jcit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 30/04/2024 घोषणा क" तारीख /Date Of Pronouncement: 05/06/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre (Hereinafter The “Ld. Cit(A)”) Dt. 22/08/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For Assessment Year 2017-18. 2. None Appeared On Behalf Of The Assessee. On The Previous Occasion When The Case Was Fixed For Hearing On 07/02/2024 & 23/01/2024, The Assessee Sought Adjournment. Today, There Is No Appearance. We, Therefore, Decide To Adjudicate The Appeal On The Basis Of Available Record & Hearing The Ld. D/R. 3. The Sole Issue Involved In The Instant Appeal Is The Disallowance Of Depreciation Claimed Of Rs. 33,69,260/-. Facts In Brief Are That The 2

va) of sub-section (1) of section 36; (ii) in the case of income of the nature referred to in clauses (ii) and (iii) of sub- section (2) of section 56, deductions, so far as may be, in accordance with the provisions of sub-clause (ii) of clause (a) and clause (c) of section 30, section 31 and sub-sections

THE DCIT, CIR-3(2) GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED , GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

36(1)(va) of the Act for delayed payment of employees’ contribution to Provident Fund, (ii) ₹3,58,787/- u/s 40(a)(ia) Page 3 of 45 I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Sikkim State Cooperative Supply and Marketing Federation Limited

DEPUTY COMMISSIONER OF INCOME TAX, CIR-3(2), GANGTOK, GANGTOK SIKKIM vs. SIKKIM STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED, GANGTOK SIKKIM

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

36(1)(va) of the Act for delayed payment of employees’ contribution to Provident Fund, (ii) ₹3,58,787/- u/s 40(a)(ia) Page 3 of 45 I.T.A. Nos.: 1582 & 1583/KOL/2024 Assessment Years: 2018-19 & 2020-21 Sikkim State Cooperative Supply and Marketing Federation Limited

WILSON ENGINEERING INDUSTRIES (P) LTD. ,KOLKATA vs. DCIT,CIR-1(2),KOLKATA. , KOLKATA

In the result, the appeal filed by the assessee is allowed

Bench: Sri Rajesh Kumar

36(1)(va) of the Act. Ld. CIT(A) simply confirmed the order of the AO. 4. After hearing the rival contentions and perusing the material on record, we find that undisputedly the case of the assessee was selected for limited scrutiny and the delayed payment of provident fund was not the subject matter of the limited scrutiny. We note

GANPATI INDUSTRIEAL PVT. LTD.,KOLKATA vs. DCIT, CEN. CIR. 4(2), KOLKATA

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Rajpal Yadav, Hon’Ble & Dr. Manish Borad, Hon’Ble

36(1)(va) in respect of delayed deposit of amount I.T.A. No. 301/Kol/2024 Assessment Year: 2018-19 Ganpati Industrial Private Limited 2 collected towards employees’ contribution to PF/ESI cannot be claimed even though deposited within the due date of filing of return of income read with Section 43B of the Income-tax Act, 1961”. Under these circumstances, the amount

NORMURA RESEARCH INSTITURE FINANCIAL TECHNOLOGIES INDIA PRIVATE LIMITED,KOLKATA vs. ACIT,CIRCLE-2(2), KOL, KOLKATA

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2012-13

36. Before us, on the issue of working capital adjustment, the AR submitted that the ITAT in its order had observed, "The assessee has also requested for working capital adjustment. The case of the assessee is that working capital does have an impact on the profitability of the company and more accounts receivable in case of a company would mean