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4 results for “depreciation”+ Section 69Cclear

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Key Topics

Section 143(3)9Addition to Income4Section 2633TDS3

M/S. VISHAL MOTORS,BILASPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX-1(1), BILASPUR

In the result appeal of the assessee partly allowed for statistical purposes

ITA 13/RPR/2013[2009-10]Status: DisposedITAT Raipur17 Oct 2022AY 2009-10

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.13/Rpr/2013 (ननधाारण वषा / Assessment Year :2009-2010) M/S Vishal Motors, Vs Acit-1(1), Bilaspur(C.G.) Jarhabhata, Link Road, Bilaspur-495001 Pan No. : Aaafv 7542 C (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri Vimal Agrawal & Laxmi Sharma, CAsFor Respondent: Shri G.N.Singh, Sr. DR
Section 69C

section 32 of Income Tax Act, 1961, where in it is stated that, an assessee is entitled to claim depreciation on fixed assets only if the following conditions are satisfied: 1. Assessee must be owner of the asset – registered owner need not be necessary. 2. The asset must be used for the purposes of business or profession. 3. The asset

NISHANT JAIN,BILASPUR vs. ACIT CIRCLE 1(1), BILASPUR

In the result, appeal filed by the assessee in ITA No

ITA 511/RPR/2024[2017-18]Status: DisposedITAT Raipur20 Jan 2025AY 2017-18

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 510, 511 & 512/Rpr/2024 "नधा"रण वष" / Assessment Years : 2014-15, 2017-18 & 2018-19 Nishant Jain Ring Road No.2, Shanti Nagar, Near Sidhasikhar Vistar, Bilaspur (C.G.)-495 001 Pan: Agepj9793M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(1), Bilaspur (C.G.) ……""यथ" / Respondent

For Appellant: S/shri Sunil Kumar Agrawal &For Respondent: Smt. Anubhaa Tah Goel, Sr. DR
Section 143(3)Section 263

Section 40A(3) deserves to be deleted, as the assessee has already offered the profit difference for taxation in lieu of the discrepancies arising during the survey. The payment in question was addressed by including the necessary profit adjustments, and therefore, no further addition on this account is warranted. 14 Nishant Jain Vs. ACIT, Circle-1(1), Bilaspur

NISHANT JAIN,BILASPUR vs. ACIT CIRCLE 1(1), BILASPUR

In the result, appeal filed by the assessee in ITA No

ITA 510/RPR/2024[2014-15]Status: DisposedITAT Raipur20 Jan 2025AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 510, 511 & 512/Rpr/2024 "नधा"रण वष" / Assessment Years : 2014-15, 2017-18 & 2018-19 Nishant Jain Ring Road No.2, Shanti Nagar, Near Sidhasikhar Vistar, Bilaspur (C.G.)-495 001 Pan: Agepj9793M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(1), Bilaspur (C.G.) ……""यथ" / Respondent

For Appellant: S/shri Sunil Kumar Agrawal &For Respondent: Smt. Anubhaa Tah Goel, Sr. DR
Section 143(3)Section 263

Section 40A(3) deserves to be deleted, as the assessee has already offered the profit difference for taxation in lieu of the discrepancies arising during the survey. The payment in question was addressed by including the necessary profit adjustments, and therefore, no further addition on this account is warranted. 14 Nishant Jain Vs. ACIT, Circle-1(1), Bilaspur

NISHANT JAIN,BILASPUR vs. ACIT CENTRAL CIRCLE, BILASPUR

In the result, appeal filed by the assessee in ITA No

ITA 512/RPR/2024[2018-19]Status: DisposedITAT Raipur20 Jan 2025AY 2018-19

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita Nos. 510, 511 & 512/Rpr/2024 "नधा"रण वष" / Assessment Years : 2014-15, 2017-18 & 2018-19 Nishant Jain Ring Road No.2, Shanti Nagar, Near Sidhasikhar Vistar, Bilaspur (C.G.)-495 001 Pan: Agepj9793M .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(1), Bilaspur (C.G.) ……""यथ" / Respondent

For Appellant: S/shri Sunil Kumar Agrawal &For Respondent: Smt. Anubhaa Tah Goel, Sr. DR
Section 143(3)Section 263

Section 40A(3) deserves to be deleted, as the assessee has already offered the profit difference for taxation in lieu of the discrepancies arising during the survey. The payment in question was addressed by including the necessary profit adjustments, and therefore, no further addition on this account is warranted. 14 Nishant Jain Vs. ACIT, Circle-1(1), Bilaspur