DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S PHILIPS INDIA LTD., KOLKATA

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

depreciation on moulds without taking cognizance of the provisions of the Act read with Income-tax Rules, 1962. 7.3. The Learned AO and DRP erred on facts in holding that the moulds are not used for the purpose of the business of the Company and are not used in rubber/plastic factory. 8. Short credit of tax deducted at source

M/S. MATERIALS CHEMICALS AND PERFORMANCE INTERMEDIARIES PVT. LTD. (FORMERLY, MCC PTA INDIA CORP. PRIVATE LTD.),KOLKATA vs. ACIT, CIRCLE 11, KOLKATA, KOLKATA

In the result, the appeal filed by the assessee in ITA No

Bench: Dr. Manish Borad & Shri Anikesh Banerjee]

depreciation of Rs. 15,37,307 available in FY 2002-03 as per books of accounts. Detailed calculations of the same are enclosed as Annexure 2. Ground 13: Interest under section 244A

AVR STORAGE TANK TERMINALS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 11(1), KOLKATA, KOLKATA

In the result, the appeal is allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2020-21

depreciation is mandatory as per the provisions of section 32 of the Art. 5. That on the facts and in the circumstances of the case, the NFAC erred in not directing the Assessing Officer to consider total income at Rs. 10,33,47,450 in the Computation Sheet issued along with the impugned assessment order instead of considering the total

ACIT, CIR. 2, , ASANSOL vs. EASTERN COALFIELD LTD, DISHERGARH

In the result, the appeal of the revenue is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar]

depreciation then income was taken at Nil. Thereafter an assessment order was passed u/s 143(3) read with Sect assessment order was passed u/s 143(3) read with Section 147 on 28.03.2014. Dispute ion 147 on 28.03.2014. Dispute travelled in appeal before the Ld. CIT(A) who has partly allowed the appeal of the n appeal before

M/S. PRICEWATERHOUSE COOPERS PRIVATE LIMITED,KOLKATA vs. ACIT, CIRCLE - 2(2), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed partly

depreciation on leased assets of Rs. 4,36,03,330 and non- -grant of claim of principal portion of lease rentals grant of claim of principal portion of lease rentals amounting to Rs. 5,37,68,623/ amounting to Rs. 5,37,68,623/- 17.1. The issue is covered in favour The issue is covered in favour of the assessee

M/S PHILLIPS INDIA LIMITED,KOLKATA vs. ACIT, CIR-12(2), KOLKATA, KOLKATA

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

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A No. 612/Kol/2017 Assessment Year : 2012-13 M/S Philips India Ltd. -Vs- Acit, Circle-12(2), Kolkata (Formerly Philips Electronics India Ltd.) [Pan: Aabcp 9487 A] (Appellant) (Respondent)

depreciation on total payment towards lease transactions including interest. 14.1. The ld AR argued that this issue is covered by the decision of the Hon’ble Supreme Court in the case of ICDS Ltd vs CIT reported in (2013) 350 ITR 527 (SC) wherein it was held that :- ‘the lessor i.e the assessee is the owner of the vehicles