Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (2) TMI 617 - ITAT AHMEDABADAdditional depreciation disallowed - assessee-firm is engaged in the business of embroidery work on job work basis. - Held that:- In view of case of S.S.M. Brothers (P) Ltd. & Others v. CIT [1999 (1) TMI 2 - SUPREME Court] wherein it is directly applicable to facts of the instant case because Sec.32(1)(iia) also provides for additional depreciation in respect of new machinery and plant purchased by assessee who is engaged in the business of manufacture of production of any article or thing. In the above case the Hon'ble Supreme Court has already held that assessee was using machinery in production of processed textile i.e. embroidery work and thus, the fact embroidery work is regarded as production cannot be denied. Since the assessee being engaged in embroidery work is entitled for additional depreciation - Decided in favour of assessee. Disallowance of office expenses - CIT(Appeals) partly confirming the action of Assessing Officer by sustaining disallowance to the extent ₹ 5,981/- - Held that:- No interference is required in the estimation as adopted by the Learned CIT(Appeals) for the year under consideration - Decided against assessee.
|