VIVEK NATHURAM GAVHANE,PUNE vs. THE PR. COMMISSIONER OF INCOME TAX, CENTRAL, PUNE

ITA 849/PUN/2025Status: DisposedITAT Pune04 November 2025AY 2020-21Bench: DR.MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the Assessing Officer had conducted due inquiry and examination before allowing the depreciation claim. Therefore, the PCIT's assumption of jurisdiction under Section 263 was not justified.

What were the facts?

The assessee claimed depreciation on immovable properties that were partly rented out and partly used for business. The PCIT initiated revision proceedings under Section 263, holding the Assessing Officer's order allowing depreciation to be erroneous and prejudicial to revenue.

What were the issues?

Whether the PCIT was justified in invoking revisionary powers under Section 263 when the Assessing Officer had already inquired into the issue of depreciation on partly rented and partly business-used properties.

Which sections of the Income-tax Act were involved?

Section 263,Section 32,Section 69C,Section 69A,Section 143(3),Section 54B

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Cases cited in this judgment(8)Show list

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Income Tax Appellate Tribunal, PUNE BENCHES “B”, PUNE

Before: DR.MANISH BORAD & SHRI VINAY BHAMORE

For Appellant: Shri Nikhil S. Pathak
For Respondent: Shri Amit Bobde
Hearing: 15.09.2025Pronounced: 04.11.2025

PER DR. MANISH BORAD, ACCOUNTANT MEMBER :

The captioned appeal at the instance of assessee pertaining to A.Y. 2020-21 is directed against the order dated 27.01.2025 framed by PCIT(Central), Pune emanating out of Assessment Order dated 30.09.2022 passed u/s.143(3) of the Income Tax Act, 1961 (in short ‘the Act’).

2.

Brief facts of the case are that the assessee is an individual and carried on the business of supply of food, foodgrains, grocery, stationery etc. in the name of sole proprietary concern M/s. Ashish Trading Company. Income of Rs.99,44,420/- declared in the return of income for A.Y. 2020- 21 e-filed on 31.03.2021. A survey u/s.133A of the Act carri

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