NEEL METAL PRODUCTS LTD. V. DCIT, CIRCLE-18(1), NEW DELHI
Parties Involved
Facts Summary
The case involves multiple appeals by the assessee, NEEL METAL PRODUCTS LTD., and cross-appeals by the revenue against orders of the Commissioner of Income Tax (Appeals) and the Commissioner of Income Tax (Appeals)-XVI, Delhi. The appeals pertain to assessment years 2009-10, 2011-12, and 2012-13. The assessee challenged various disallowances, depreciation rates, deductions, and penalty proceedings. The revenue appealed against the disallowances and other adjustments made by the Assessing Officer and upheld by the Commissioner of Income Tax (Appeals).…
Decision in favour of
Partly Assessee / Partly Revenue
Legal Issues
- 1. Disallowance under section 14A of the Act
- 2. Depreciation rate on electrical installations
- 3. Depreciation rate on UPS
- 4. Deduction under section 80IC of the Act
- 5. Disallowance of Bank Guarantee Commission
Judgment Outcome
Decided in favour of Partly Assessee / Partly Revenue.
Precedents Relied Upon
6 precedents cited in this judgement.
Similar Judgements
Nirma Limited Vs. DCIT
Ahmedabad benchShapoorji Pallonji and Company Private Limited vs Deputy Commissioner of Income Tax
Eltek SGS Pvt. Ltd. vs ACIT
Delhi Bench benchAY 2012-13Partly AllowedSRF Limited vs NeAC, New Delhi
Mrs. Ratna Chadha Vs. Comm. of Income Tax
Delhi Bench benchAY 2009-10Partly AllowedBank of India vs. Assistant Commissioner of Income Tax – 2(1)(2)