Fatehraj Singhvi v. UOI

Permanent Magnets Ltd., Mumbai vs. DCIT - CPC (TDS), Mumbai

In the result, appeals filed by the Assessee are hereby ordered to be allowed

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. Nos.6436 To 6442/Mum/2018 (निर्धारण वर्ा / Assessment Years: 2015-16) Permanent Magnets Ltd. बिधम/ Dcit-Cpc (Tds) C/O Jayesh Sanghrajka & Co Vs. Tds Cpc, Aayakar Bhawan Llp Chartered Accountants Sector-3,Vaishali Nagar, Unit No. 405, Hind Ghaziabad. Rajasthan Centre, D.S. Phalke Road, Dadar (E), Mumbai-400014. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacp2231M (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Ms. Manasvi Chheda (Ar) Revenue By: Shri Mallikarjun Utture (Dr) सुनवाई की तारीख / Date Of Hearing: 05/08/2019 घोषणा की तारीख /Date Of Pronouncement: 07/08/2019

…the Act. The relevant finding has been given in para no. 4, 5 & 6 which is hereby reproduced as under: - “4. We do not find the view taken by the ld. CIT(A) to be correct in law. As against ‘Rajesh Kaurani’ (supra), ‘Shri Fatehraj Singhvi and Others vs.UOI’, 73 Taxmann.com 252 (Ker), as also admitted by the ld. CIT(A) himself, decides the issue in favour of the assessee. The only objection of the ld. CIT(A) is that this decision and others to the same effect have been taken into consideration by the Hon’ble Gujarat High Court while passing ‘Rajesh Kaurani’ (supra). However, while observing so, the ld. CIT(A) has…