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89 results for “depreciation”+ Section 40A(2)(b)clear

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Key Topics

Section 143(3)77Disallowance58Addition to Income54Section 115J41Section 14A37Section 80I32Section 26332Depreciation31Deduction30Section 40

M/S. EVEREADY INDUSTRIES INDIA LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

In the result, the appeal of the assessee stands allowed

ITA 805/KOL/2019[2014-15]Status: DisposedITAT Kolkata13 Dec 2019AY 2014-15

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 143(3)Section 14ASection 263

depreciation claimed 7. Large value sale of consideration of property in ITR is less than sale consideration of property reported in TDS return under section 194IA 8. Mismatch in sales turnover reported in Audit Report and ITR 9. Mismatch in amount paid to related persons u/s 40A(2)(b

MEGA ENGINEERS & BUILDERS,PORT BLAIR vs. DCIT, CIR. 3(2) , PORT BLAIR

In the result, the appeal of assessee is allowed

ITA 312/KOL/2024[2017-18]Status: Disposed

Showing 1–20 of 89 · Page 1 of 5

28
Section 40A(3)20
Section 6816
ITAT Kolkata
09 Oct 2024
AY 2017-18

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 194C

B & R). During the assessee filed return of income declaring total income of Rs. 22,46,110/- on 03.11.2017. The case of the assessee was selected for scrutiny under CASS and statutory notices were duly issued and served to the assessee. During the course of assessment proceedings, the AO observed that the gross receipt of assessee were

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

343/K/2009 04-05 Revenue dismissed

ITA 356/KOL/2009[2004-05]Status: DisposedITAT Kolkata15 Dec 2017AY 2004-05

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

b) the provisions of this clause shall not apply if the amount of loss brought forward or unabsorbed depreciation is nil; or] As per the provisions of the above section we note that the assessee is entitled to claim the deduction of brought forward losses or unabsorbed depreciation whichever is less as per the books of accounts. In the instant

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

343/K/2009 04-05 Revenue dismissed

ITA 357/KOL/2009[2005-06]Status: DisposedITAT Kolkata15 Dec 2017AY 2005-06

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

b) the provisions of this clause shall not apply if the amount of loss brought forward or unabsorbed depreciation is nil; or] As per the provisions of the above section we note that the assessee is entitled to claim the deduction of brought forward losses or unabsorbed depreciation whichever is less as per the books of accounts. In the instant

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

343/K/2009 04-05 Revenue dismissed

ITA 377/KOL/2009[2005-06]Status: DisposedITAT Kolkata15 Dec 2017AY 2005-06

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

b) the provisions of this clause shall not apply if the amount of loss brought forward or unabsorbed depreciation is nil; or] As per the provisions of the above section we note that the assessee is entitled to claim the deduction of brought forward losses or unabsorbed depreciation whichever is less as per the books of accounts. In the instant

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

343/K/2009 04-05 Revenue dismissed

ITA 485/KOL/2010[2006-07]Status: DisposedITAT Kolkata15 Dec 2017AY 2006-07

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

b) the provisions of this clause shall not apply if the amount of loss brought forward or unabsorbed depreciation is nil; or] As per the provisions of the above section we note that the assessee is entitled to claim the deduction of brought forward losses or unabsorbed depreciation whichever is less as per the books of accounts. In the instant

M/S VODAFONE EAST LIMITED (FORMERLY KNOWN AS VODAFONE ESSAR EAST LIMITED),KOLKATA vs. ACIT, CIR-7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

ITA 431/KOL/2012[2008-2009]Status: DisposedITAT Kolkata15 Dec 2017AY 2008-2009

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

b) the provisions of this clause shall not apply if the amount of loss brought forward or unabsorbed depreciation is nil; or] As per the provisions of the above section we note that the assessee is entitled to claim the deduction of brought forward losses or unabsorbed depreciation whichever is less as per the books of accounts. In the instant

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

343/K/2009 04-05 Revenue dismissed

ITA 343/KOL/2009[2004-05]Status: DisposedITAT Kolkata15 Dec 2017AY 2004-05

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

b) the provisions of this clause shall not apply if the amount of loss brought forward or unabsorbed depreciation is nil; or] As per the provisions of the above section we note that the assessee is entitled to claim the deduction of brought forward losses or unabsorbed depreciation whichever is less as per the books of accounts. In the instant

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

343/K/2009 04-05 Revenue dismissed

ITA 482/KOL/2010[2006-07]Status: DisposedITAT Kolkata15 Dec 2017AY 2006-07

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

b) the provisions of this clause shall not apply if the amount of loss brought forward or unabsorbed depreciation is nil; or] As per the provisions of the above section we note that the assessee is entitled to claim the deduction of brought forward losses or unabsorbed depreciation whichever is less as per the books of accounts. In the instant

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

343/K/2009 04-05 Revenue dismissed

ITA 673/KOL/2011[2007-08]Status: DisposedITAT Kolkata15 Dec 2017AY 2007-08

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

b) the provisions of this clause shall not apply if the amount of loss brought forward or unabsorbed depreciation is nil; or] As per the provisions of the above section we note that the assessee is entitled to claim the deduction of brought forward losses or unabsorbed depreciation whichever is less as per the books of accounts. In the instant

DCIT, CIR-10(1), KOLKATA, KOLKATA vs. M/S. LUCKY GOLD STAR COMPANY LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

ITA 1381/KOL/2016[2012-13]Status: DisposedITAT Kolkata20 Apr 2018AY 2012-13

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

Section 143(3)Section 2(24)(x)Section 36(1)(va)Section 37

section 37 of the Act for disallowance of gross business loss on silks fabrics, I have already given my findings while deciding appeal for assessment year 2013- 14. For similar reason the disallowance u/s. 40A(2)(b) and 37 of the Act is considered as inapplicable to the facts of the present case so far as it relates

DCIT, CIR-10(1), KOLKATA, KOLKATA vs. M/S. LUCKY GOLD STAR COMPANY LTD., KOLKATA

In the result, Revenue’s appeal is dismissed

ITA 1382/KOL/2016[2013-14]Status: DisposedITAT Kolkata20 Apr 2018AY 2013-14

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

Section 143(3)Section 2(24)(x)Section 36(1)(va)Section 37

section 37 of the Act for disallowance of gross business loss on silks fabrics, I have already given my findings while deciding appeal for assessment year 2013- 14. For similar reason the disallowance u/s. 40A(2)(b) and 37 of the Act is considered as inapplicable to the facts of the present case so far as it relates

D.C.I.T CIR - 3,KOLATA, KOLKATA vs. M/S MANTORA OIL PRODUCTS LTD, KOLKATA

In the result, assessee’s appeal stands allowed

ITA 2252/KOL/2013[2004-05]Status: DisposedITAT Kolkata18 Mar 2016AY 2004-05

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2010-11

Section 143(3)Section 194CSection 263Section 40A(2)

depreciation allowance granted in earlier years. c) Directed the AO to reconciliation of AIR information & examine the same; d) Directed the AO that sales to sister concerns is not at arm’s length price and he has not examined the same. The AO to examine in terms of Sec. 40A(2)(b) of the Act and addition be made

ANJALI JEWELLERS PVT. LTD.,KOLKATA vs. CIT, KOLKATA-IV, KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

ITA 2252/KOL/2014[2010-2011]Status: DisposedITAT Kolkata18 Mar 2016AY 2010-2011

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2010-11

Section 143(3)Section 194CSection 263Section 40A(2)

depreciation allowance granted in earlier years. c) Directed the AO to reconciliation of AIR information & examine the same; d) Directed the AO that sales to sister concerns is not at arm’s length price and he has not examined the same. The AO to examine in terms of Sec. 40A(2)(b) of the Act and addition be made

M/S. THIESS INDIA PRIVATE LIMITED,KOLKATA vs. ITO, WARD-12(4), KOLKATA, KOLKATA

In the result, assessee’s appeal is allowed

ITA 2290/KOL/2014[2011-2012]Status: DisposedITAT Kolkata10 Feb 2016AY 2011-2012

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year:2011-12

Section 143(3)Section 263Section 40A(2)(b)

depreciation. The lower of the two as per clause iii of explanting 1 to 115JB (2) is Rs.108.39 lacs which is much higher than the stated book profit. 7. For the Ld. CIT erred in attraction of section 40A(2)(b

ITO, WARD - 36(2), KOLKATA, KOLKATA vs. M/S. S.H. MUMTAZUDDIN, KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 352/KOL/2010[2003-04]Status: DisposedITAT Kolkata05 Oct 2016AY 2003-04

Bench: Shri M. Balaganesh, Am & Shri K. Narasimha Chary, Jm]

For Appellant: Md. Ghyas Uddin, JCIT, Sr. DRFor Respondent: Shri Manish Tiwari, FCA
Section 133ASection 144

section 40A(2)(b) of the Act would be highly improper. We also find that the nature of services rendered by these two parties were also not denied or doubted by the ld AO in the remand report. Hence we hold that the ld CITA had rightly granted relief to the assessee in this regard. Accordingly, the Ground

DCIT, CIR-10(1), KOLKATA, KOLKATA vs. M/S MAA AMBA INFRASTRUCTURE (P) LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 1309/KOL/2015[2012-2013]Status: DisposedITAT Kolkata23 Mar 2018AY 2012-2013

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1309/Kol/2015 Assessment Year : 2012-13 Dcit, Circle-10(1), Kolkata -Vs- M/S Maa Amba Infrastructure (P) Ltd. [Pan: Aaecm 6507 F] (Appellant) (Respondent)

For Appellant: Shri Saurabh Kumar, Addl. CIT Sr. DRFor Respondent: Shri Akkal Dudhewala, AR
Section 143(3)Section 22

section 40A(2) of the Act. There is no evidence to prove that the impugned transaction of payment of commission was prompted by consideration of tax avoidance. On the contrary, the evidences suggest that the payee had suffered taxes on the said commission income at maximum marginal rate and had also derived commission income of Rs 16.12 crores which admittedly

ACIT, CIRCLE - 1, ASANSOL, ASANSOL vs. ASHIRBAD REAL ESTATE & TRANSPORT PVT. LTD., ASANSOL

In the result, the cross objection of the assessee in CO 1/2012 is dismissed and revenue appeal in ITA No

ITA 1591/KOL/2011[2008-09]Status: DisposedITAT Kolkata18 Sept 2015AY 2008-09

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am] Assessment Year : 2008-09 (Appellant ) (Respondent) A.C.I.T., Circle-1, -Versus- Ashirbad Real Estate & Asansol Transport Pvt.Ltd. Burdwan (Pan:Aaeca 8075 C) C.O.No.1/Kol/2012 A/O Ita No.1591/Kol/2011 Assessment Year : 2008-09 Ashirbad Real Estate & -Versus- A.C.I.T., Circle-1, Transport Pvt.Ltd., Burdwan Asansol (Pan Aaeca 8075 C) (Cross Objector) (Respondent) For The Appellant : Shri S.S.Alam, Cit (Dr) For The Respondent : Shri Aravind Agarwal, Advocate Date Of Hearing : 10.09.2015. Date Of Pronouncement : 18.09.2015. Order Per Shri M.Balaganesh, Am 1. This Appeal Of The Revenue & Cross Objection Of The Assessee Arises Out Of The Order Of The Learned Cit(A) In Appeal No142/Cit(A)/Asl/Range-1/Asl/10-11 Dated 27.09.2011 For The Asst Year 2008-09 Arising Out Of The Order Of The Learned Assessing Officer Framed U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’).

For Appellant: Shri S.S.Alam, CIT (DR)For Respondent: Shri Aravind Agarwal, Advocate
Section 143(3)Section 271CSection 40

depreciation on dumpers and pay loaders at the higher rate and accordingly we are not inclined to interfere with the order of the Learned CITA on this issue. The Ground No.1 raised by the revenue is dismissed. 5. The next issue to be decided in this appeal is as to whether the Learned CITA is justified in deleting the addition

SRIMANTA KUMAR SHIT,PURBA MEDINAPORE vs. A.C.I.T., CIRCLE - 27(2), HALDIA

In the result, the appeal of the assessee is allowed

ITA 1911/KOL/2024[2017-2018]Status: DisposedITAT Kolkata19 Nov 2024AY 2017-2018

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumari.T.A. No. 1911/Kol/2024 Assessment Year: 2017-2018 Srimanta Kumar Shit,………………...…………Appellant Rangamalaput, Junput-Contai, Purba Medinapore-721450, West Bengal [Pan:Bffps3635Q] -Vs.- Assistant Commissioner Of Income Tax..…Respondent Circle-27(2), Haldia, Basudebpur, Talpukur, Khanjan Chak, Haldia, Midnapore-721101, W.B. Appearances By: Shri S.K. Tulsiyan, Advocate & Lata Goyal, Ca, Appeared On Behalf Of The Assessee Shri Subhendu Datta, Cit, D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : October 22, 2024 Date Of Pronouncing The Order : November 19, 2024 O R D E R

Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 144Section 250Section 56(2)(vii)Section 69A

depreciation Addition on account of sundry Rs. 12,55,30,136/- creditors 3 Srimanta Kumar Shit Addition u/s 56(2)(vii)(b)(ii) of the Rs.29,68,865/- Act Addition on account of Fixed Rs.2,46,573/- deposit u/s 69A 6. Being aggrieved, the assessee filed an appeal before the Ld. CIT(A) on 30.01.2020 which was disposed

ALISHAN STEELS (P)LTD,KOLKATA vs. DCIT, CIRCLE-1(1), KOLKATA

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

ITA 1001/KOL/2023[2015-16]Status: HeardITAT Kolkata01 Jan 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawal

For Appellant: Shri K. M. Roy, FCA & Shri B. K. Agarwal, FCAFor Respondent: Shri Kapil Mondal, Addl. CIT, DR
Section 115BSection 143(3)Section 147Section 148Section 14ASection 40A(2)(b)Section 68

40A(2)(b). 7. Ld. CIT(A)(NFAC) has erred in confirming of a sum of Rs.1,39,218/- under section 14A. 8. Ld. CIT(A)(NFAC) has erred in confirming addition of Rs.2,58,64,275/- of advances outstanding during previous financial year.” 4. In order to deal with the common ground in both the appeals, we take