Depreciation Should Be Removed For Calculation Of Net Profit Margin And Cash PLI Is Justified Method: Kolkata ITAT

The Kolkata ITAT recently decided on comparables selection and adoption of Cash PLI in case of entity engaged in production of continuously annealed, cold-rolled steel / coils and sheets for automotive sector.The Bench comprising Dr. Manish Borad (Accountant Member) and Anikesh Banerjee (Judicial Member) observed that “The assessee stated that considering depreciation as a part of the...