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1 result for “depreciation”+ Section 80Cclear

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Key Topics

Section 80C3Section 143(3)2Section 282Section 37(1)2

RAMANLAL JIVRAJBHAI PATEL,THANE vs. THE INCOME TAX OFFICER, WARD-1, HIMATNAGAR

In the result, the appeal filed by the Assessee is partly allowed

ITA 515/AHD/2024[2016-17]Status: DisposedITAT Ahmedabad11 Jun 2024AY 2016-17

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar, Accountnat Member Assessment Year : 2016-17 Ramanlal Jivrajbhai Patel The Ito B-2003, Shreeji Heights Vs Ward-1 (Palm Beach Road, Navi Mumbai – Himatnagar Thane, Nerul Node –Iii So) Sector 46A, Plot No.1, 1A, 1B, 1C Thane 400 706 Maharashtra Pan: Abcpp 1551 G .. अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri B.K. Patel, Ca Revenue By : Shri Ketan Gajjar, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 06/06/2024 घोषणा क" तार"ख /Date Of Pronouncement: 11/06/2024 आदेश/O R D E R Per Makarand V. Mahadeokarthis Appeal By The Assessee Is Directed Against The Order Dated 20/02/2024 Passed By The Ld.Commissioner Of Income Tax (Appeals)- Nfac, Delhi [Hereinafter Referred To As 'The Ld. Cit(A)'] In The Matter Of Assessment Order Passed By The Assessing Officer [Hereinafter Referred To As 'The Ao’] Under Section 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As 'The Act') For The Assessment Year (Ay) 2016-17. Facts Of The Case: Ramanlal Jivrajbhai Patel Vs. Ito Asst. Year : 2016-17

For Appellant: Shri B.K. Patel, CAFor Respondent: Shri Ketan Gajjar, Sr.DR
Section 143(2)Section 143(3)Section 28Section 37(1)
Section 80C

80C of the Income Tax Act, 1961. 3. The Learned CIT(A) has erred in law in facts as much as confirming the addition of Rs.4,44,595/- made by the learned AO without considering the facts that the assessee has earned income which falls under section 28(v) of the Income Tax Act, which is considered as business income