M P BIRLA FOUNDATION EDUCATION SOCIETY ,KOLKATA vs. DCIT(E) - 1(1), KOLKATA

In the result, appeals of both the assessees are allowed

Bench: Shri Rajpal Yadav & Shri Girish Agrawal]

disallowing the depreciation which was claimed under Section 32 of the Act was that once the capital expenditure is treated as application of income for charitable purposes, the assessees had virtually enjoyed a 100 per cent write off of the cost of assets and, therefore, the grant of depreciation would amount to giving double benefit to the ITA No. 1766/Kol/2019

VIDYA BHARATI SOCIETY FOR EDUCATION & SCIENTIFIC ADVANCEMENT,KOLKATA vs. ACIT(EXEMPTION) CIRCLE - 1(1), KOLKATA , KOLKATA

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

Bench: Shri P.M. Jagtap(Kz) & Shri A. T. Varkey, Jm]

disallowing the depreciation which was claimed under Section 32 of the Act was that once the capital expenditure is treated as application of income for charitable purposes, the assessees had virtually enjoyed a 100 per cent write off of the cost of assets and, therefore, the grant of depreciation would amount to giving double benefit to the assessee. Though

DCIT, CIRCLE - 10(1), KOLKATA , KOLKATA vs. M/S. BRIDGE & BUILDING CONSTRUCTION CO. PVT. LTD., KOLKATA

Bench: Hon’Ble Shri A. T. Varkey, Jm & Shri Manish Borad, Am]

disallowance of the entire expenditure debited to the P&L a/c, it is to be substituted estimation of net profit on revenue from operations at 8%, which works out to Rs. 6,99,65,578/-." h] It is submitted that the presumptive section 44AD had been applied by the ld CIT(A) in the case of assessee is contrary

BRIDGE & BUILDING CONSTRUCTION CO. PVT. LTD.,KOLKATA vs. ITO, WARD - 10(1), , KOLKATA

Bench: Hon’Ble Shri A. T. Varkey, Jm & Shri Manish Borad, Am]

disallowance of the entire expenditure debited to the P&L a/c, it is to be substituted estimation of net profit on revenue from operations at 8%, which works out to Rs. 6,99,65,578/-." h] It is submitted that the presumptive section 44AD had been applied by the ld CIT(A) in the case of assessee is contrary

BRIDGE & BUILDING CONSTRUCTION CO. PVT. LTD.,KOLKATA vs. ACIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA

Bench: Hon’Ble Shri A. T. Varkey, Jm & Shri Manish Borad, Am]

disallowance of the entire expenditure debited to the P&L a/c, it is to be substituted estimation of net profit on revenue from operations at 8%, which works out to Rs. 6,99,65,578/-." h] It is submitted that the presumptive section 44AD had been applied by the ld CIT(A) in the case of assessee is contrary

BRIDGE & BUILDING CONSTRUCTION CO. PVT. LTD.,KOLKATA vs. DCIT, CENTRAL CIRCLE - 2(1), KOLKATA , KOLKATA

Bench: Hon’Ble Shri A. T. Varkey, Jm & Shri Manish Borad, Am]

disallowance of the entire expenditure debited to the P&L a/c, it is to be substituted estimation of net profit on revenue from operations at 8%, which works out to Rs. 6,99,65,578/-." h] It is submitted that the presumptive section 44AD had been applied by the ld CIT(A) in the case of assessee is contrary

DCIT, CIRCLE - 10(1), KOLKATA , KOLKATA vs. M/S. BRIDGE & BUILDING CONSTRUCTION CO. PVT. LTD., KOLKATA

Bench: Hon’Ble Shri A. T. Varkey, Jm & Shri Manish Borad, Am]

disallowance of the entire expenditure debited to the P&L a/c, it is to be substituted estimation of net profit on revenue from operations at 8%, which works out to Rs. 6,99,65,578/-." h] It is submitted that the presumptive section 44AD had been applied by the ld CIT(A) in the case of assessee is contrary