Court admits appeals on limitation, depreciation, consultancy fee, OBR, Book Profits; declines CSR claim;

The court admitted the appellant's appeal on the issue of limitation under Section 153 of the Act, listing it for further proceedings. The appeal challenging the refusal to allow balance additional depreciation under Section 32(1)(iia) was also admitted for consideration. The court directed the ITAT to decide the Management Consultancy Fee issue based on existing evidence and remanded the OBR issue to the AO for verification. Additionally, the court directed the ITAT to determine the Book Profits calculation issue based on available evidence. The appeal on the disallowance of CSR claim was declined, with the matter listed for final determination of other legal questions.

---

---

Issues:
1. Barred by limitation under Section 153 of the Act
2. Claim of balance additional depreciation under Section 32(1)(iia) of the Act
3. Disallowance of reduction claimed on account of Debenture Redemption Reserve (DRR)
4. Upward adjustment on Management Consultancy Fee
5. Addition on account of alleged Out of Books Receivables (OBR)
6. Reduction of provision of taxes while computing Book Profits under Section 115JB of the Act
7. Disallowance of claim of Corporate Social Responsibility (CSR)

Analysis:

1. Barred by Limitation: The ITAT erred in not holding the final assessment order as barred by limitation under Section 153 of the Act. The appellant argued that the order dated 28.11.2019 was beyond the statutory period. The court admitted the appeal and listed it for further proceedings.

2. Additional Depreciation: The ITAT's refusal to allow the claim of balance additional depreciation under Section 32(1)(iia) was questioned. The appellant sought to challenge this decision. The court admitted the appeal for consideration.

3. Debenture Redemption Reserve (DRR): The ITAT upheld the disallowance of reduction claimed on account of DRR, considering it as a provision, not a reserve. The appellant contested this decision. The court admitted the appeal for further hearing.

4. Management Consultancy Fee: The ITAT remanded the issue of upward adjustment on Management Consultancy Fee to the AO for fresh determination. The appellant disagreed with this decision, arguing that no further evidence could be provided. The court directed the ITAT to decide the issue based on existing evidence.

5. Out of Books Receivables (OBR): The ITAT remanded the issue of alleged OBR to the AO for verification. The appellant argued against this remand, stating that certain amounts should be excluded. The court directed the ITAT to consider the appellant's challenge based on filed evidence.

6. Book Profits Calculation: The ITAT remanded the issue of reduction of provision of taxes while computing Book Profits under Section 115JB to the AO for verification. The appellant contested this remand, stating that the figures were not in dispute. The court directed the ITAT to decide the issue based on available evidence.

7. Corporate Social Responsibility (CSR): The ITAT upheld the disallowance of CSR claim, stating it did not qualify as per Schedule VII of the Companies Act, 2013. The court declined to entertain the appeal on this question, as the expenses were considered charity or donations, not CSR. The matter was listed for final determination of other questions of law.

This detailed analysis covers the issues raised in the legal judgment, highlighting the arguments, decisions, and directions provided by the court for each issue involved.

---