VASANT CO-OP SHETKARI GINNING & PRESSING FACTORY LTD.,YAVATMAL vs. PRINCIPAL COMMISSIONER OF INCOME TAX-II, NAGPUR
In the result, appeal of the assessee is partly allowed in terms of our aforesaid observations
ITA 29/NAG/2021[2016-17]Status: DisposedITAT Nagpur09 May 2022AY 2016-17
Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 29/Nag/2021 "नधा"रण वष" / Assessment Year : 2016-17 The Vasant Co-Op. Shetkari Ginning & Pressing Factory Limited; At. Yavatmal Road, Wani, Tq. Wani, Dist. Yavatmal-440 010 Pan : Aaaat1439M .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax-Ii, Nagpur. ……""यथ" / Respondent Assessee By : Shri Pravin Gandhi, Ar Revenue By : Shri Vitthal Bhosale, Dr
For Appellant: Shri Pravin Gandhi, ARFor Respondent: Shri Vitthal Bhosale, DR
Section 143(3)Section 263Section 54G
depreciation @5% was claimed by it. We, thus, in terms of our aforesaid observations not being able to persuade ourselves to uphold the view taken by the Pr.
CIT, i.e, as regards the entitlement of the assessee towards indexation of cost of acquisition of the property in question, i.e., land admeasuring 29,228.79 Sq. Mtrs, thus, set-aside his order
