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4 results for “depreciation”+ Section 48clear

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Key Topics

Section 1445Section 1475Section 143(2)4Section 1483Section 12A2Section 133(6)2Section 2632Addition to Income2Reassessment2Limitation/Time-bar

M/S MANISH FINLEASE (P) LTD,PATNA vs. ITO, WARD-2(1), PATNA

ITA 25/PAT/2019[2010-11]Status: DisposedITAT Patna09 Aug 2019AY 2010-11

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2010-2011 Manish Finlease Pvt Ltd., Vs. Ito, Ward 2(1), Patna Chandi House Exhibition Road, Patna Pan/Gir No.Aaccm 6252 B (Appellant) .. ( Respondent) Assessee By : Shri A.K.Rastogi & Rakesh Kumar, Ars Revenue By : Shri Indrajeet Singh, Dr Date Of Hearing : 20/06/ 2019 Date Of Pronouncement : 09/08/ 2019 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order Of The Cit(A)-1, Patna Dated 27.9.2018 For The Assessment Year 2010-2011. 2. The Appeal Filed By The Assessee Is Delayed By 51 Days. The Assessee Has Filed Application For Condonation Of Delay Stating The Reasons For Not Filing The Appeal In Time Before The Tribunal. After Hearing The Submissions Of The Parties, We Are Satisfied That The Assessee Had A Bonafide Reason For Not Filing The Appeal In Time. Therefore, We Condone The Delay & Proceed To Decide The Appeal Of The Assessee On Merits.

For Appellant: Shri A.K.Rastogi & Rakesh Kumar, ARsFor Respondent: Shri Indrajeet Singh, DR
Section 133(6)Section 143(2)Section 143(3)Section 147Section 148(1)Section 68
2
Condonation of Delay2

depreciation to be allowed under sections 30 and 32. The Assessing Officer determined the taxable income making additions and disallowances. Subsequently, the Assessing Officer issued a notice under section 148 and reopened the assessment P a g e 10 | 71 Assessment Year : 2010 -2011 under section 147 on the basis of under assessment. The assessee objected to the reopening

ACIT vs. INTERNATIONAL SCHOOL OF SOCIAL WELFARE HUMAN RESOURCES,

In the result, the appeal filed by the Revenue is allowed while the Cross Objection filed by the assessee is dismissed

ITA 119/PAT/2011[2005-06]Status: DisposedITAT Patna30 Oct 2024AY 2005-06

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

For Appellant: Shri Abhi Sarkar, AdvFor Respondent: Ld. DR. Lalita Kumari, Sr. DR
Section 12ASection 143(2)Section 144Section 147Section 148Section 250

48,29,533.00 and surplus of Rs.6,30,671.11. The assessee has claimed the exemption of u/s 10(23C)(vi) without having approval from approving authority. As per the provision of the section 10 (23C)(vi) approval u/s 10(23)(C)(vi) from the CCIT or DGIT as the case may be is a necessary condition for getting exemption under

SRIRAM ENTERPRISES,PATNA vs. PCIT (CENTRAL), PATNA

In the result, the appeal of the assessee is allowed

ITA 76/PAT/2023[2018-19]Status: DisposedITAT Patna08 May 2024AY 2018-19

Bench: Dr. Manish Borad & Shri Sonjoy Sarmai.T.A. No. 76/Pat/2023 Assessment Year: 2018-2019 Sriram Enterprises,………………………..........Appellant C/O. Nirmal & Associates, Nepali Kothi, Opposite Gasoline Petrol Pump, Boring Road, Patna-800001 [Pan:Aarfs8853J] -Vs.- Principal Commissioner Of Income Tax (Central), Patna,…………………………………..……………..Respondent, Bihar-800001 Appearances By: Shri Nishant Maitin, C.A., Appeared On Behalf Of The Assessee Md. A.H. Chowdhary, Cit (D.R.), Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : 5Th March, 2024 Date Of Pronouncing The Order: May 8Th, 2024 O R D E R

Section 133ASection 142(1)Section 143(1)Section 263

48,88,327.94 and Sub-Contract Charges amounting to Rs. 19,02,77,614/-. The Liability for Goods & Services is 39% of expenses for consumption of raw materials and Liability for Sub-Contract is 76% of sub-contract charges which is unusual. x x x x x x x x x x x x …………… Detail of Sundry Creditors above Rs.5

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-1, PATNA, PATNA vs. NORTH BIHAR POWER DISTRIBUTION COMPANY LIMITED, PATNA

In the result, the appeals of the Revenue and COs of the assessee are dismissed

ITA 234/PAT/2025[2017-18]Status: DisposedITAT Patna23 Feb 2026AY 2017-18

Bench: Shri Duvvuru Rl Reddy, Vp & Shri Rajesh Kumar, Am

For Appellant: Sh. Ankit Kumar, CAFor Respondent: Md. A. H. Chowdhary, CIT (DR)

depreciation is calculated on the reduced value of fixed assets. The AO however noted that no corroborative documentary evidence was filed in respect of the above contention. Therefore, the interest amount on grant partakes the nature of revenue receipt and is to be accounted accordingly. Therefore, the addition of Rs. 28,78,62,239/- was made. 6.4. We therefore find