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

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

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

RAVI MODI,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(2),, KOLKATA

Appeals of the assessee are allowed

54F of the Act and only thereafter, AO passed the assessment. Therefore, the assessment framed by the AO cannot be said to be erroneous and prejudicial to the interest of the revenue. The case of the assessee find supports from the decision of the Hon’ble Calcutta High Court in the case of PCIT Vs. Kesoram Industries Limited (supra), wherein

SHILPI MODI,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(2),, KOLKATA

Appeals of the assessee are allowed

54F of the Act and only thereafter, AO passed the assessment. Therefore, the assessment framed by the AO cannot be said to be erroneous and prejudicial to the interest of the revenue. The case of the assessee find supports from the decision of the Hon’ble Calcutta High Court in the case of PCIT Vs. Kesoram Industries Limited (supra), wherein