9911796707
TMI Blog2023 (5) TMI 1411X X X X Extracts X X X X X X X X Extracts X X X X ..... ration the decision of Brakes India Ltd. [ 2012 (3) TMI 31 - ITAT, CHENNAI ] which was followed in the case of Aztec Auto (P) Ltd. [ 2020 (9) TMI 541 - MADRAS HIGH COURT ] Questions of law (f) and (g) are answered against the revenue. - THE HON BLE T.S. SIVAGNANAM, CHIEF JUSTICE AND THE HON BLE JUSTICE HIRANMAY BHATTACHARYYA Mr. Soumen Bhattacharjee, Adv. For the Appellant Mr. J.P. Khaitan, Sr. Adv. Mr. A.P. Agarwalla, Adv. For the Respondent ORDER The Court : This appeal filed by the revenue under Section 260A of the Income Tax Act (the Act in brevity) is directed against the order dated 23rd June, 2022 passed by the Income Tax Appellate Tribunal, C - Bench, Kolkata (the Tribunal ) in ITA No.263 264/Kol/2020 and CO No.4/Kol/2021 for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... law, whether the Hon ble ITAT has erred in law as it failed to appreciate that, by transferring the more profitability of the assessee to eligible unit, the assessee is taking advantage to claim more deduction under section 80IC of the Income Tax. (f) On the facts and in the circumstances of the case and in law, whether the Hon ble ITAT has erred in law as it failed to appreciate, in disallowing the claim of balance additional depreciation of Rs.60,66,115/- u/s 32(1)(iia), that the amendment regarding balance additional depreciation was brought into Finance Act, 2015 which has come into effect from 01.04.2016 and was prospective in nature? (g) On the facts and in the circumstances of the case and in law, whether the Hon ble ITAT has erred i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... L Book Profit : Rs. 34,61,65,231 Tax on above @18.5% [B] : Rs. 6,40,40,567 As could be seen from the above computation of total income, the deduction under Section 80IC is nil. Therefore, the issue is purely academic and, accordingly, the substantial questions of law (a) to (e) are left open as it does not arise for consideration in the case on hand. So far as the substantial questions of law (f) and (g) are concerned with regard to the additional depreciation, it is not in dispute that the said issues squarely covered by the decision of the Principal Commissioner of Income Tax, Central 1, Kolkata Vs. Ramkrishna Forging Ltd., reported in 2022(7) TMI 1312 (Cal). In the said decision the Court took into consideration the decision in the case ..... X X X X Extracts X X X X X X X X Extracts X X X X
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