COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

depreciation and other capital expenditure mentioned is varied when such liability crystalises in the year of payment. Hence, the mark-to-market loss being only a notional loss for the purpose of the books of account of the assessee and no crystallization of such loss having been occurred during the year, such loss has rightly been disallowed

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

depreciation and other capital expenditure mentioned is varied when such liability crystalises in the year of payment. Hence, the mark-to-market loss being only a notional loss for the purpose of the books of account of the assessee and no crystallization of such loss having been occurred during the year, such loss has rightly been disallowed

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

depreciation and other capital expenditure mentioned is varied when such liability crystalises in the year of payment. Hence, the mark-to-market loss being only a notional loss for the purpose of the books of account of the assessee and no crystallization of such loss having been occurred during the year, such loss has rightly been disallowed

DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA vs. M/S. TATA METALIKS LIMITED, KOLKATA

In the result, the appeal of the assessee is partly allowed

depreciation adopted for preparing the Book Profits under section 115JB shall be the same as adopted for the purpose of preparing such accounts including profit and loss account and laid before the company at its annual general meeting. Therefore, whatever accounting policy was adopted for the purpose of preparing the P&L laid before the company should be adopted

TATA METALIKS LIMITED,KOLKATA vs. DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed

depreciation adopted for preparing the Book Profits under section 115JB shall be the same as adopted for the purpose of preparing such accounts including profit and loss account and laid before the company at its annual general meeting. Therefore, whatever accounting policy was adopted for the purpose of preparing the P&L laid before the company should be adopted

M/S TATA METALIKS LTD.,KOLKATA vs. DCIT, CIR-3(1), KOLKATA, KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

depreciation adopted for preparing the Book Profits under section 115JB shall be the same as adopted for the purpose of preparing such accounts including profit and loss account and laid before the company at its annual general meeting. Therefore, whatever accounting policy was adopted for the purpose of preparing the P&L laid before the company should be adopted

DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA vs. M/S. TATA METALIKS LIMITED, KOLKATA

Bench: Shri S.S.Godara & Dr. A.L. Saini

depreciation adopted for preparing the Book Profits under section 115JB shall be the same as adopted for the purpose of preparing such accounts including profit and loss account and laid before the company at its annual general meeting. Therefore, whatever accounting policy was adopted for the purpose of preparing the P&L laid before the company should be adopted

TATA METALIKS LTD.,KOLKATA vs. ITO,WD-3(2), KOLKATA, KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

depreciation adopted for preparing the Book Profits under section 115JB shall be the same as adopted for the purpose of preparing such accounts including profit and loss account and laid before the company at its annual general meeting. Therefore, whatever accounting policy was adopted for the purpose of preparing the P&L laid before the company should be adopted

DCIT, CIR-3(1), KOLKATA, KOLKATA vs. M/S TATA METALIKS LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

depreciation adopted for preparing the Book Profits under section 115JB shall be the same as adopted for the purpose of preparing such accounts including profit and loss account and laid before the company at its annual general meeting. Therefore, whatever accounting policy was adopted for the purpose of preparing the P&L laid before the company should be adopted

KESORAM INDUSTRIES LIMITED (SUCESSOR OF HINDUSTHAN HEAVY CHEMICALS LTD.),KOLKATA vs. A.C.I.T., CC-X, KOLKATA, KOLKATA

In the result, the appeal of revenue is dismissed and that of the assessee is allowed

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

depreciation incurred by the appellant, the evidence of which were filed by the Appellant.” 16. The crux of the grounds of appeal of the assessee is that the Ld. CIT(A) erred in confirming the disallowance of Rs.20,479,843/- in computing adjusted book profit for the purpose of section 115J

D.C.I.T., CIRCLE-4, KOLKATA, KOLKATA vs. M/S HINDUSTAN HEAVY CHEMICALS LTD., KOLKATA

In the result, the appeal of revenue is dismissed and that of the assessee is allowed

Bench: Shri M. Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm]

depreciation incurred by the appellant, the evidence of which were filed by the Appellant.” 16. The crux of the grounds of appeal of the assessee is that the Ld. CIT(A) erred in confirming the disallowance of Rs.20,479,843/- in computing adjusted book profit for the purpose of section 115J

DIPSC LIMITED,KOLKATA vs. D.C.I T CIR - VI,KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am] Assessment Year : 2007-08

115J was introduced, the section expressly excluded from its operation bodies like the Electricity Board. Though such express exclusion is absent in section 115JA, the Central Board of Direct Taxes issued Circular No.762 dated February 18, 1998 excluding bodies like the Electricity Board from the operation of section. Circular No.762 not only is binding on the Department, but also explains

M/S. VODAFONE ESSAR EAST LTD.,KOLKATA vs. JCIT, RANGE - 7, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

depreciation only when both of them are present. Even otherwise, there are several material differences between old section 115J and Section

ACIT, CIRCLE - 7, KOLKATA vs. HUTCHISON TELECOM EAST LIMITED, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

depreciation only when both of them are present. Even otherwise, there are several material differences between old section 115J and Section

ACIT, CIRCLE - 7, KOLKATA vs. VODAFONE ESSAR EAST LTD., KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

depreciation only when both of them are present. Even otherwise, there are several material differences between old section 115J and Section

DCIT, CIRCLE - 7, KOLKATA, KOLKATA vs. VODAFONE ESSAR EAST LIMITED, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

depreciation only when both of them are present. Even otherwise, there are several material differences between old section 115J and Section

M/S. VODAFONE ESSAR EAST LIMITED,KOLKATA vs. ACIT, CIRCLE - 7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

depreciation only when both of them are present. Even otherwise, there are several material differences between old section 115J and Section

M/S. VODAFONE ESSAR EAST LIMITED,KOLKATA vs. ACIT, CIRCLE - 7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

depreciation only when both of them are present. Even otherwise, there are several material differences between old section 115J and Section