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2017 (12) TMI 1157 - ITAT KOLKATAAllowance of depreciation @ 30% on written down value of motor cars - Held that:- We find that the assessee is engaged in the business of transportation of cash and valuables belonging to the third parties, for which it uses motor lorries customized as armoured vehicles. The security vans are customized, used for transportation of cash and valuables on hire and, therefore, we find the ratio of the decision of Calcutta High Court in the case of Agarwal Finance [2009 (1) TMI 504 - Calcutta High Court ] is applicable and the depreciation is allowable at higher rate. The CIT-A was justified in directing the AO and in allowing @ 30 depreciation as claimed by the assessee - Decided against revenue Addition u/s. 2(24) r.w.s 36(1)(va) towards employees’ contribution to PF belatedly - Held that:- In the present case, the CIT-A found satisfied with the submissions of the assessee that the impugned amounts were paid before filing return of income. Therefore, respectfully following the decision of the Hon’ble High Court of Calcutta in the case of Vijay Shree Ltd [2011 (9) TMI 30 - CALCUTTA HIGH COURT], we hold that the Assessee is entitled to claim deduction as per 1st proviso to Section 43B of the Act and the order of the CIT-A is justified and needs no interference. Therefore, the employees’ contribution to PF can be paid before the due date of filing of return of income. We find no infirmity in the impugned order of the CIT-A and it was justified. - Decided against revenue
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