Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.1912/Pun/2019 िनधा"रणवष" / Assessment Year : 2014-15 Atharva Polymers Private The Dy.Commissioner Of Limited, Vs. Income Tax, Cricle-1(1), Gat No.596, Dhoksanghvi, Pune. Ranjangaon Ganpati, Tal.Shirur, Pune – 412209. Pan: Aahca 1363 L Appellant/ Assessee Respondent /Revenue Assessee By Shri Rohit Tapadiya– Ar Revenue By Shri S P Walimbe – Dr Date Of Hearing 09/06/2022 Date Of Pronouncement 06/07/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-1, Punedated 25.07.2019For The A.Y.2014-15.The Assessee Has Raised The Following Grounds Of Appeal: “1. The Ld. Cit(A) Erred In Passing Ex Party Order. 2. The Ld. Ao Erred & Cit(A) Erred In Confirming The Addition Made Of Rs.1,93,452/- On Account Of Delayed Contribution Made To Pf Although The Same Was Paid Before The Due Date Of Furnishing Of Return U/S 139(1). 3. The Ld. Ao Erred & Ld. Cit(A) Erred In Confirming The Treatment Made W.R.T. Subsidy Received Of Rs.2,72,696/- Under Ip Scheme By Deducting The Receipt From Block Of Asset. 4. The Ld. Ao Erred & Ld. Cit(A) Erred In Not Treating The Subsidy Received Under Ip Scheme As Capital Receipt.
section 139(1) of the Income Tax Act.The AO also observed that the assessee received Rs.43,25,000/- subsidy from Govt. of Maharashtra. AO took the view that the said amount has been received by the assessee as Capitalsubsidy, the Assessing Officer made proportionate disallowance of Rs.2,72,696/- as wrong claim of depreciation. AO also added Dividend income