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Tuesday 1 January 2013

Penalty for not quoting PAN in Form 16A upheld by ITAT Amritsar

ITA/18/ASR/2012 dated 17-7-2012

On Embroidery Machinery 50% depreciation is allowable

ITA 36 & 37/2011/ASR  dated 4-6-12 Amit Embroidery Fair Land Colony
ITA 357/2010/ASR dated 23-4-2012  S.S. Embroiders

The ITAT held that words "processing and garment sector" are wide enough to cover embroidery machinery by inviting refrence to Credit linked Capital Subsidy Scheme

Decision of Coordinate Bench of ITAT when no contrary decision of Bench itself is binding on the ITAT Bench hearing the case

ITA 357/(ASR)/2010 ACIT vs S.S. Embroiders