2026 (5) TMI 1475

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....spondent: Sh. Rajesh Kumar Dhanesta, Sr. DR ORDER PER ANUBHAV SHARMA, JM: The appeals are preferred by the assessee against the order dated 18.11.2025 of the Ld. Addl/JCIT(A)-5, Kolkata (hereinafter referred as Ld. First Appellate Authority or in short Ld. 'FAA') in DIN & Order No : ITBA/APL/S/250/2025-26/1082728962(1) arising out of the intimation order dated 04.12.2019 u/s. 143(1) of th....

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....ings. In this context, we find that return of assessee was processed u/s. 143(1) of the Act and thereafter assessee had filed appeal before ld. CIT(A) and during appeal this additional claim was raised which certainly could have been entertained by ld. CIT(A) by following decision of Hon'ble Supreme Court in Goetze (India) Ltd. vs. CIT(2006) 284 ITR 323 (SC). Thus, based on the aforesaid factual c....

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....he block with positive value in the block. Hence, there is no question of applicability of provision of Section 50 of the Act on sale of depreciable asset. The assessee had already claimed lesser depreciation under the Income Tax Act by reducing actual sale consideration figure in the block of plant and machinery. The profit on sale of fixed asset of Rs. 2,82,521/- has got nothing to do with the c....