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20 results for “depreciation”+ Section 145Aclear

Sorted by relevance

Mumbai189Delhi44Chandigarh44Ahmedabad27Bangalore21Kolkata20Hyderabad18Chennai9Surat5Jaipur3Karnataka2Kerala1Indore1Cochin1Calcutta1

Key Topics

Section 143(3)27Section 43B22Addition to Income15Disallowance12Depreciation11Deduction10Section 145A9Section 115J9Section 1488Section 147

SELEVEL ADVERTISING PVT LTD,KOLKATA vs. C.I.T KOLKATA - IV,KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed

ITA 2065/KOL/2013[2008-09]Status: DisposedITAT Kolkata30 Sept 2016AY 2008-09

Bench: Shri Waseem Ahmed & Shri K.Narsimha Chary

Section 1Section 143(2)Section 143(3)Section 145ASection 263Section 43B

145A. Apart from the above, we find that the payment for services rendered was not received in the financial year under consideration. The provisions of Section 43B of the Act reads as under:- “Notwithstanding anything contained in any other provision of this Act, a deduction otherwise allowable under this Act in respect of- (a) any sum payable by the assessee

8
Section 2638
Section 14A6

DCIT, CIRCLE-12(2), KOLKATA, KOLKATA vs. M/S. SELVEL ADVERTISING PVT. LTD., KOLKATA

In the result, assessee’s appeal is allowed

ITA 2122/KOL/2014[2008-2009]Status: DisposedITAT Kolkata30 Sept 2016AY 2008-2009

Bench: Shri Waseem Ahmed & Shri K.Narsimha Chary

Section 1Section 143(2)Section 143(3)Section 145ASection 263Section 43B

145A. Apart from the above, we find that the payment for services rendered was not received in the financial year under consideration. The provisions of Section 43B of the Act reads as under:- “Notwithstanding anything contained in any other provision of this Act, a deduction otherwise allowable under this Act in respect of- (a) any sum payable by the assessee

JCIT (OSD), CC-XX, KOLKATA, KOLKATA vs. M/S G. S. ATWAL & CO.(ENGG) PVT. LTD., KOLKATA

In the result, assessee’s CO is partly allowed

ITA 1516/KOL/2012[2009-10]Status: DisposedITAT Kolkata26 Apr 2017AY 2009-10

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year:2009-10

Section 143(1)Section 143(2)Section 143(3)Section 145A

section 145A shall be assessed as “ income from other sources” in the ear in which it is received. Thus, from the above Circular which is binding on the Income Tax Authority, it is clear that the impugned interest cannot be taxed on received basis for the years prior to the AYs 2010-11. Therefore the issue of charging the income

JCIT(OSD), CIRCLE - 10, KOLKATA, KOLKATA vs. STADMED PVT. LTD., KOLKATA

In the result, the appeal of the Revenue is treated as partly allowed for statistical purposes

ITA 222/KOL/2012[2006-07]Status: DisposedITAT Kolkata27 Nov 2015AY 2006-07

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

Section 43(1)

depreciation thereon. In support of this contention, he has relied on Explanation 10 to Section 43(1) read with proviso thereto. The said Explanation along with the proviso thereto is extracted below:- “”Explanation 10 : Where a portion of the cost of an asset acquired by the assessee has been met directly or indirectly by the Central Government or a State

M/S. ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE - 10, KOLKATA, KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 488/KOL/2006[2002-03]Status: DisposedITAT Kolkata10 Jun 2016AY 2002-03

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

Section 143(3)

depreciation (Rs.24,27,86,408/- - Rs.22,02,10,622/-), being reduced to the extent of Rs.2,25,75,786- against the claim of the assessee.” ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 8 16. During the course of hearing, the learned DR placed reliance on the order

M/S. ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE - 10, KOLKATA, KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 852/KOL/2007[2003-04]Status: DisposedITAT Kolkata10 Jun 2016AY 2003-04

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

Section 143(3)

depreciation (Rs.24,27,86,408/- - Rs.22,02,10,622/-), being reduced to the extent of Rs.2,25,75,786- against the claim of the assessee.” ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 8 16. During the course of hearing, the learned DR placed reliance on the order

ACIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. ICI INDIA LTD., KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 2613/KOL/2005[2002-03]Status: DisposedITAT Kolkata10 Jun 2016AY 2002-03

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

Section 143(3)

depreciation (Rs.24,27,86,408/- - Rs.22,02,10,622/-), being reduced to the extent of Rs.2,25,75,786- against the claim of the assessee.” ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 8 16. During the course of hearing, the learned DR placed reliance on the order

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. ICI INDIA LTD., KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 1019/KOL/2007[2003-04]Status: DisposedITAT Kolkata10 Jun 2016AY 2003-04

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

Section 143(3)

depreciation (Rs.24,27,86,408/- - Rs.22,02,10,622/-), being reduced to the extent of Rs.2,25,75,786- against the claim of the assessee.” ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 8 16. During the course of hearing, the learned DR placed reliance on the order

M/S. G.S. ATWAL & COMPANY (ENGINEERS) PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(1) , KOLKATA

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

ITA 1938/KOL/2019[2006-07]Status: DisposedITAT Kolkata18 Jun 2021AY 2006-07

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

Section 143(1)Section 143(3)Section 147Section 148Section 154Section 234DSection 250Section 32(1)(iia)

depreciation u/s. 32(1)(iia) amounting to Rs. 91,17,497/- and the A.O. was disallowed the said amount without any specific reason which is baseless. That the A.O. has wrongly charged interest u/s. 234D amounting to Rs. 19,28,569/- is completely arbitrary, unjustified and illegal.” 3. On appeal the ld. first appellate authority confirmed the order

M/S. G.S. ATWAL & COMPANY (ENGINEERS) PVT. LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(1) , KOLKATA

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

ITA 1937/KOL/2019[2005-06]Status: DisposedITAT Kolkata18 Jun 2021AY 2005-06

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

Section 143(1)Section 143(3)Section 147Section 148Section 154Section 234DSection 250Section 32(1)(iia)

depreciation u/s. 32(1)(iia) amounting to Rs. 91,17,497/- and the A.O. was disallowed the said amount without any specific reason which is baseless. That the A.O. has wrongly charged interest u/s. 234D amounting to Rs. 19,28,569/- is completely arbitrary, unjustified and illegal.” 3. On appeal the ld. first appellate authority confirmed the order

D.C.I.T CIR - 1,KOLKATA, KOLKATA vs. M/S M/S EXIDE INDUSTRIES LIMITED, KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 1347/KOL/2013[2008-09]Status: DisposedITAT Kolkata13 Apr 2016AY 2008-09

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

For Appellant: S/Shri Anup Sinha, ACA &For Respondent: None appeared
Section 143(3)Section 145ASection 43B

section 145A in the Income Tax Act, 1961 had accounted for the excise duty element in valuation of closing stock of finished goods. There are two types of closing stock of finished goods: (a) goods which are dispatched to branches/godoums/warehouses [referred to as DEPOT STOCK] and (b) lying in factory. premises not dispatched [referred to as FACTORY STOCK]. ) However

METAL BOX INDIA LTD,KOLKATA vs. A.C.I.T CIRCLE - 11(1), KOLKATA, KOLKATA

In the result, I.T.A. No

ITA 1673/KOL/2017[1996-1997]Status: DisposedITAT Kolkata16 Oct 2018AY 1996-1997

Bench: Hon’Ble Shri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 1673 & 1674/Kol/2017 Assessment Years : 1996-97 & 1997-98 Metal Box India Ltd. -Vs- Acit, Circle-11(1), Kolkata [Pan: Aabcm 9196 M] (Appellant) (Respondent) I.T.A No. 1916/Kol/2017 Assessment Year : 1996-97 Dcit, Circle-11(1), Kolkata -Vs- Metal Box India Ltd. [Pan: Aabcm 9196 M] (Appellant) (Respondent)

For Appellant: Shri Manish Tiwari, ARFor Respondent: Shri Robin Chowdhury, Addl. CIT Sr.DR
Section 139(1)Section 143(3)Section 145ASection 254Section 43B

145A of the Act had mandated the inclusion of excise duty on closing stock of finished goods in the overall valuation of closing stock. But this is effective only from Asst Year 1999-2000. In any case, the effect of the same would be revenue neutral, as on one hand, the assessee would make provision for excise duty by debiting

METAL BOX INDIA LTD,KOLKATA vs. A.C.I.T CIRCLE - 11(1), KOLKATA, KOLKATA

In the result, I.T.A. No

ITA 1674/KOL/2017[1997-1998]Status: DisposedITAT Kolkata16 Oct 2018AY 1997-1998

Bench: Hon’Ble Shri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 1673 & 1674/Kol/2017 Assessment Years : 1996-97 & 1997-98 Metal Box India Ltd. -Vs- Acit, Circle-11(1), Kolkata [Pan: Aabcm 9196 M] (Appellant) (Respondent) I.T.A No. 1916/Kol/2017 Assessment Year : 1996-97 Dcit, Circle-11(1), Kolkata -Vs- Metal Box India Ltd. [Pan: Aabcm 9196 M] (Appellant) (Respondent)

For Appellant: Shri Manish Tiwari, ARFor Respondent: Shri Robin Chowdhury, Addl. CIT Sr.DR
Section 139(1)Section 143(3)Section 145ASection 254Section 43B

145A of the Act had mandated the inclusion of excise duty on closing stock of finished goods in the overall valuation of closing stock. But this is effective only from Asst Year 1999-2000. In any case, the effect of the same would be revenue neutral, as on one hand, the assessee would make provision for excise duty by debiting

A.C.I.T CIR - 11(1),KOLKATA, KOLKATA vs. M/S. METAL BOX INDIA LTD, KOLKATA

In the result, I.T.A. No

ITA 1916/KOL/2017[1996-97]Status: DisposedITAT Kolkata16 Oct 2018AY 1996-97

Bench: Hon’Ble Shri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 1673 & 1674/Kol/2017 Assessment Years : 1996-97 & 1997-98 Metal Box India Ltd. -Vs- Acit, Circle-11(1), Kolkata [Pan: Aabcm 9196 M] (Appellant) (Respondent) I.T.A No. 1916/Kol/2017 Assessment Year : 1996-97 Dcit, Circle-11(1), Kolkata -Vs- Metal Box India Ltd. [Pan: Aabcm 9196 M] (Appellant) (Respondent)

For Appellant: Shri Manish Tiwari, ARFor Respondent: Shri Robin Chowdhury, Addl. CIT Sr.DR
Section 139(1)Section 143(3)Section 145ASection 254Section 43B

145A of the Act had mandated the inclusion of excise duty on closing stock of finished goods in the overall valuation of closing stock. But this is effective only from Asst Year 1999-2000. In any case, the effect of the same would be revenue neutral, as on one hand, the assessee would make provision for excise duty by debiting

D.C.I.T.,CIRCLE-11(1), KOLKATA vs. TURTLE LTD., HOWRAH

In the result, the appeal of the revenue is dismissed

ITA 2620/KOL/2019[2012-13]Status: DisposedITAT Kolkata23 Feb 2022AY 2012-13

Bench: Shri A. T. Varkey, Jm & Shri Girish Agrawal, Am]

Section 139Section 142(1)Section 143Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 3

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year) : Provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. I M C LTD, KOLKATA

Appeal is dismissed

ITA 371/KOL/2012[2007-08]Status: DisposedITAT Kolkata18 Jan 2017AY 2007-08

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

Section 10(34)Section 115JSection 143(3)Section 14ASection 234B

section 10(2) does not deal exhaustively with the deductions, which must be made to arrive at the true profits and gains. To find out whether an expenditure is on the capital account or on revenue, one must consider the expenditure in relation to the business. Since all payments reduce capital in the ultimate analysis, one is apt to consider

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. IMC LTD., KOLKATA

Appeal is dismissed

ITA 781/KOL/2009[2005-06]Status: DisposedITAT Kolkata18 Jan 2017AY 2005-06

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

Section 10(34)Section 115JSection 143(3)Section 14ASection 234B

section 10(2) does not deal exhaustively with the deductions, which must be made to arrive at the true profits and gains. To find out whether an expenditure is on the capital account or on revenue, one must consider the expenditure in relation to the business. Since all payments reduce capital in the ultimate analysis, one is apt to consider

M/S. IMC LTD.,KOLKATA vs. DCIT, CIRCLE - 11, KOLKATA, KOLKATA

Appeal is dismissed

ITA 813/KOL/2009[2005-06]Status: DisposedITAT Kolkata18 Jan 2017AY 2005-06

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

Section 10(34)Section 115JSection 143(3)Section 14ASection 234B

section 10(2) does not deal exhaustively with the deductions, which must be made to arrive at the true profits and gains. To find out whether an expenditure is on the capital account or on revenue, one must consider the expenditure in relation to the business. Since all payments reduce capital in the ultimate analysis, one is apt to consider

ITO, WARD-1(3), KOLKATA, KOLKATA vs. M/S GKW LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

ITA 432/KOL/2012[1998-99]Status: DisposedITAT Kolkata24 Aug 2016AY 1998-99

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :1998-99 Ito Ward-1(3), Room V/S. M/S Gkw Ltd., Central No. 1A, 4Th Floor, Plaza, 2/6 Sarat Bose Aayakar Bhawan, P-7, Road, Office Space No. Chowringhee Suquare, 406, 4Thfloor, Kolkata-20 Kolkata-700 069 [Pan No. Aabcg 0671 K] .. अपीलाथ" /Appellant ""यथ"/Respondent

Section 143(2)Section 143(3)Section 145A

Section 145A of the Act. 3. That the Ld. CIT(Appeals)-I, Kolkata was not justified in deleting the disallowance of Rs.74,46,597/- on account of earlier years liabilities not supported by documents. 4. That the Ld. CIT(Appeals)-I, Kolkata was not justified in deleting disallowance of depreciation

DCIT, CIRCLE - 8, KOLKATA, KOLKATA vs. M/S. E.I.H. LTD., KOLKATA

In the result, the appeal of the revenue in ITA NO

ITA 2182/KOL/2006[2003-04]Status: DisposedITAT Kolkata09 Dec 2015AY 2003-04

Bench: : Shri M. Balaganesh

For Appellant: Shri R.N Bajoria, Sr.Advocate &For Respondent: Shri Rajat Subhra Biswas, ld.CIT/DR
Section 143(3)Section 195Section 40Section 9(1)(vii)

depreciation on buildings and computers and accordingly the ground no. 10 raised by the assessee is allowed. 9. Disallowance of notional foreign exchange loss on foreign currency loan – Rs. 7,87,63,270/- ITA Nos. 2182/Kol/06, 57, 1876 & 1846/Kol/07, 196 & 299/Kol/2010 DCIT,Cir-8, Kol Vs. M/s. E I H Ltd 27 The brief facts of this issue is that