Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (6) TMI 310 - AT - Income TaxDepreciation on moulds - @ 30% OR 15% - Held that:- In the given facts and circumstances, Tribunal Judgment in the case of BPL Refrigeration Ltd. [2004 (3) TMI 317 - ITAT BANGALORE-A ] and Kinetic Honda Motor Ltd. (2000 (3) TMI 201 - ITAT PUNE) are applicable to the assessee's case, respectfully following them, we uphold order of the CIT(A) allowing higher depreciation at the rate of 40% on moulds.” . We also find that in A.Y. 2003-04 and 2007-08 similar issue was decided by the Co-ordinate Bench of Tribunal in favour of the assessee by relying on the decision of Tribunal in assessee’s own case for A.Y. 2001- 02. Before us, Revenue has not brought any contrary binding decision in its support nor could controvert the findings of CIT(A). - Decided against revenue. Addition on account of delayed payment on employee’s contribution to provident fund - Held that:- . In view of the undisputed fact that the Employees share of contribution of Provident fund was paid after the prescribed due date, and following the decision of Hon'ble Gujarat High Court in the case of Gujarat State Road Transport Corporation (2014 (1) TMI 502 - GUJARAT HIGH COURT), we are of the view that the AO was justified in disallowing the belated payments and thus this ground of Revenue is allowed. - Decided against assesse.
|