ITAT Ahmedabad disallows Late ESIC payments & Allows Depreciation & Interest Claims

Kastwel Foundries Vs DCIT (ITAT Ahmedabad) In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, granted partial relief to M/s Kastwel Foundries in a dispute with the Deputy Commissioner of Income Tax (DCIT) concerning the Assessment Year 2012-13. The tribunal’s order addressed various additions and disallowances made by the tax authorities, modifying some of the initial adjustments. Kastwel Foundries, a firm involved in the manufacturing of Ferro Alloys and Master Alloys, had filed its return of income for the assessment year in question, declaring a total incom...