SHREEM ELECTRIC LIMITED,KOLHAPUR vs. ACIT CENTRAL CIRCLE, KOLHAPUR, KOLHAPUR
In the result, appeal of the assessee is allowed
ITA 898/PUN/2024[2017-18]Status: DisposedITAT Pune31 Jul 2024AY 2017-18
Bench: Shri Satbeer Singh Godara & Dr.Dipak P. Ripoteआयकर अपील सं. / Ita No.898/Pun/2024 िनधा"रण वष" / Assessment Year:2017-18 Shreem Electric Limited, V The Assistant Plot No.43 To 46, S Commissioner Of Income L.K.Akiwate Industrial Tax, Estate, Jaysingpur, Shirol, Central Circle, Kolhapur. Kolhapur – 416144. Pan: Aaccs4893C Appellant / Assessee Respondent / Revenue Assessee By None Revenue By Shri Sourabh Nayak -Addl.Cit(Dr) Date Of Hearing 31/07/2024 Date Of Pronouncement 31/07/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeal), Pune-11Passed Under Section 250 Of The Income Tax Act, Dated 31.01.2024 For The A.Y.2017-18. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Learned Cit(A) Erred In Confirming Penalty Under Section 270A Of Rs.3,01,124/-. Shreem Electric Limited, Kolhapur[A] 2. The Learned Cit(A) Failed To Appreciate That, Since The Addition Is Made On Adhoc Basis, No Penalty Can Be Levied. 3. The Penalty Levied May Please Be Delete. 4. The Appellant Craves Leave To Add, Alter, Amend Or Delete Any Of The Above Grounds Of Appeal.” 2. There Is A Delay Of Two Months Of Filing Appeal Before This Tribunal. Considering The Reasons Mentioned In The Affidavit, We Are Convinced With The Reasons For Delay & In The Larger Interest Of Justice, We Condone The Delay.
Section 250Section 270ASection 270A(6)
depreciation to the 20% on account of machinery purchases from M/s Raidance Multi Trade Pvt. Ltd. Further, the AO also initiated penalty
