DCIT, CIRCLE-4(2), KOLKATA, KOLKATA vs. M/S VISHNU TEA & INDUSTRIES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy, Hon’Ble Am & Sri Aby T. Varkey, Hon’Ble Jm] I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09 C.O. No. 64/Kol/2016 A/O. I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09

depreciation. Hence both the parts of the Ground of Cross-objection and Ground No. 3 of the revenue are dismissed. 9.3. Ground No. 4, is on the issue as to whether the so-called interest subsidy received, is a capital receipt or revenue received. The facts leading to this issue is that the assessee had acquired “Dullabcherra Tea Estate

DCIT, CIRCLE-4(2), KOLKATA, KOLKATA vs. M/S VISHNU TEA & INDUSTRIES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy, Hon’Ble Am & Sri Aby T. Varkey, Hon’Ble Jm] I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09 C.O. No. 64/Kol/2016 A/O. I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09