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TMI Blog2018 (11) TMI 508X X X X Extracts X X X X X X X X Extracts X X X X ..... of Bar Council of Odisha, he could not appear before the Bench, which is not a plausible one and, therefore, we reject the adjournment petition filed by the assessee and decide to dispose off the appeal of the assessee after considering the facts of the case and submissions of ld. DR. 3. The assessee has raised the following grounds of appeal :- "1. That the disallowance of Depreciation of 6,28,754/- being claim of excess depreciation on vehicle used on hire is illegal, arbitrary and unjustified to the particular fact and circumstance of the case. 2. That disallowance of EPF of Rs. 12,07,667/- in respect of Employees' contribution U/s 36(l)(va) since amount was paid after due date is illegal, unjustified and uncalled for to the pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd case was discussed. Thereafter the AO completed the assessment assessing total income at Rs. 4,76,04,900/-and passed order u/s.143(3) of the Act, dated 30.12.2016 making addition on account of excess depreciation @15%, addition of differential figure in respect of income received as finance commission and insurance commission as per 26AS and late payment of EPF and ESIC. 5. Aggrieved by the order of AO, the assessee filed an appeal before CIT(A). In the appellate proceedings the CIT(A) after considering the submissions of assessee and findings of the AO, deleted the addition made on account of suppression of gross receipt and confirmed the additions made on account of depreciation @15% and addition made on account of EPF and ESI and par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s available on record have been perused. I am not in a position to agree with the assessee that the commercial vehicles used by the assessee in its own business are entitled to depreciation at the higher rate if given on hire even for a day. The law clearly lays down that higher rate of depreciation is available on vehicles which are used by the assessee in a business of running them on hire. Occasional hiring out of the vehicles will not make the vehicles eligible for higher depreciation. The decision of the Hon'ble Rajasthan High Court in the case of CIT v. Sardar Stones 215 ITR 350 (Raj.) may be relied upon in this regard. The Hon'ble Supreme Court in the case of Gupta Global Exim (P) Ltd. has held that mere inclusion of transpor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in the case of Rajasthan State Beverages Corporation Ltd., [2017] 84 taxmann.com 185 (SC), where it was held as under :- " Section 43B, read with section 36(1)(va), of the Income-tax Act, 1961 - Business disallowance - Certain deductions to be allowed only on actual payment (PF and ESI contribution) - High Court by impugned order held that amount claimed on payment of PF and ESI having been deposited on or before due date of filing of returns, same could not be disallowed under section 43B or under section 36(1)(va) - Whether SLP against said impugned order was to be dismissed - Held, yes [Para 2] [In favour of assessee]" 10. Following the judicial precedence, we find in the instant case, it is not in dispute that the contribution to E ..... X X X X Extracts X X X X X X X X Extracts X X X X
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