https://www.taxtmi.com/caselaws?id=457099 The ITAT Raipur dismissed the assessee's appeal regarding disallowance of Pooja Festival expenses, following the precedent in M/s. Hira Ferro Alloys Ltd. and upholding the CIT(A)'s order sustaining the AO's addition. However, regarding additional depreciation on plant and machinery additions, the ITAT partially allowed the appeal, clarifying that additions to plant and machinery are eligible for additional depreciation under section 32(1)(iia) subject to prescribed conditions. Since relevant details were not provided by the assessee and no queries were raised by the department, the matter was restored to the AO for fresh adjudication in the interest of natural justice. en-us Fri, 18 Aug 2023 00:00:00 +0530 Thu, 05 Sep 2024 21:28:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457099 The ITAT Raipur dismissed the assessee's appeal regarding disallowance of Pooja Festival expenses, following the precedent in M/s. Hira Ferro Alloys Ltd. and upholding the CIT(A)'s order sustaining the AO's addition. However, regarding additional depreciation on plant and machinery additions, the ITAT partially allowed the appeal, clarifying that additions to plant and machinery are eligible for additional depreciation under section 32(1)(iia) subject to prescribed conditions. Since relevant details were not provided by the assessee and no queries were raised by the department, the matter was restored to the AO for fresh adjudication in the interest of natural justice. Case-Laws Income Tax Fri, 18 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457099