M/S. KALYAN AWAS VIKAS PVT. LTD, D-25, LAL BAHADUR NAGAR, JAWAHAR LAL NEHRU MARG, JAIPUR,JAIPUR vs. ACIT, CENTRAL CIRCLE-1, JAIPUR, CENTRAL CIRCLE-1, JAIPUR
In the result, all these three appeals of the assessee are allowed
ITA 329/JPR/2019[2014-15]Status: DisposedITAT Jaipur11 Sept 2020AY 2014-15
For Appellant: Shri S.L. Poddar, AdvocateFor Respondent: Shri B.K.. Gupta , CIT DR
Section 143(3)Section 153A
…books of the account of the assessee. Therefore, the A.O. erred in law in issuing notice u/s 153A of the Act. For this purpose, reliance was placed on the following judicial pronouncements: (i) Anil Kumar Bhatia Vs. Assistant Commissioner of Income Tax (2010) 1 ITR (Trib) 484 (Del) (ii) Singhad Technical Education Society Vs. ACIT (2011) 57 DTR 241 (iii) LMJ International Ltd. Vs. DCIT (2008) 14 DTR 540 (Kol Trib) (iv) ACIT Vs. Gambhir Silk Mills (2010) 6 ITR 376 (Ahm. Trib) 5. With regard to merit of disallowance, it was contended by the ld AR that the interest expenditure was incurred wholly and exclusively for…
