M/S POONAWALLA FINCOUP LIMITED,KOLKATA vs. PCIT-1, KOLKATA

In the result, appeal of the assessee is partly allowed

Bench: Shri Sanjay Garg, Hon’Ble & Shri Girish Agrawal, Hon’Blei.T.A. No. 218/Kol/2022 Assessment Year: 2017-18 M/S. Poonawalla Fincorp Limited Pcit-1, Kolkata Development House Vs 4Th Floor 24, Park Street Kolkata - 700016 Pan : Aabcm9445K अपीलाथ"/ (Appellant) "त् यथ"/ (Respondent) Assessee By : Shri S.K. Tulsiyan, Advocate & Ms. Puja Somani, Ca Revenue By : Shri Amitava Bhattacharya, Cit (D/R) सुनवाई क" तारीख/Date Of Hearing : 30/08/2022 घोषणा क" तारीख /Date Of Pronouncement: 26/09/2022 आदेश/O R D E R Per Shri Girish Agrawal: This Appeal By The Assessee Is Arising Out Of The Order Of Ld. Pr. Cit – Kolkata-1 Vide Order Itba/Rev/F/Rev5/2021-22/1042104843(1), Dt. 30/03/2022, Passed U/S 263 Of The Income-Tax Act, 1961, Hereinafter Referred To As The Act.

depreciation on assets leased under finance lease is neither erroneous nor prejudicial to the interest of the revenue as claimed and submitted by the ld. Counsel for the assessee. Assessment Year: 2017-18 Poonawalla Fincorp Limited 10 9. In respect of the third issue, wherein the ld. Pr. CIT has noted that, assessee has not recognised gross income on securitization