ACIT, CIRCLE-3, MIRZAPUR vs. M/S N CHAURASIA ASSOCIATES, , SONEBHADRA (AAJFM0374N)

In the result, while the appeal of the assessee is partly allowed the appeal of the Department is held to be allowed for statistical purposes

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2014-15 Assistant Commissioner Of Vs. M/S N. Chaurasia Associates, Income Tax, Circle-3, Mirzapur Shaktinagar, Sonebhadra Pan:Aajfm0374N (Appellant) (Respondent) & A.Y. 2014-15 M/S N. Chaurasia Associates, Vs. Dy. Commissioner Of Income Khadia Bazar, Shaktinagar, Tax, Circle-Iii, Mirzapur Sonebhadra Pan:Aajfm0374N (Appellant) (Respondent) Assessee By: Sh. Navin C. Agrawal, C.A. & Ms. Nita Goyal, C.A. Revenue By: Sh. Amalendu Nath Mishra, Cit Dr Date Of Hearing: 25.10.2024 Date Of Pronouncement: 31.12.2024 O R D E R Per Nikhil Choudhary, A.M.: These Two Appeals For Have Both Been Filed Against The Order Under Section 250 Passed By The Ld. Cit(A), Allahabad On 10.01.2019. The Grounds Of Appeal Preferred By The Revenue In Ita No. 41/Alld/2019, Are As Under:- "Whether On The Facts & Circumstances Of The Case & In Law The Ld.Cit(A) Has Not Erred In Allowing The Relief Of Rs. 6,51,65,031/- By Accepting The Assessee'S Statement That The Receipts Are From Its Business Activity In Civil Construction Without Any Verifiable A.Y. 2014-15 M/S N. Chaurasia Associates

section 143(2). The ld. AO observed, that as compared to assessment year 2012-13, the assessee had shown declining profit rates in the assessment years 2013-14 and 2014-15 and in the assessment year 2014-15, the net profit rate was only rupees 2.437%. The ld. AO observed, that as per Form 26AS, the total contract receipts were

KESARWANI & CO.,ALLAHABAD vs. JT.CIT,, ALLAHABAD

In the result the appeal of the assessee is partly allowed

31, 2003, the earlier provisions of block assessment in the case of search initiated against the assessee would not apply, as the special procedure for assessment in search cases contained in Chapter XIVB stood abolished and the new provision of section 153A provided for only a single assessment, of the period comprising of previous years, relating to six assessment years

KESARWANI & C0,,ALLAHABAD vs. JT CIT,, ALLAHABAD

In the result the appeal of the assessee is partly allowed

31, 2003, the earlier provisions of block assessment in the case of search initiated against the assessee would not apply, as the special procedure for assessment in search cases contained in Chapter XIVB stood abolished and the new provision of section 153A provided for only a single assessment, of the period comprising of previous years, relating to six assessment years

KESARWANI & C0.,ALLAHABAD vs. JT.CIT., ALLAHABAD

In the result the appeal of the assessee is partly allowed

31, 2003, the earlier provisions of block assessment in the case of search initiated against the assessee would not apply, as the special procedure for assessment in search cases contained in Chapter XIVB stood abolished and the new provision of section 153A provided for only a single assessment, of the period comprising of previous years, relating to six assessment years

KESARWANI & CO.,ALLAHABAD vs. JT.CIT,, ALLAHABAD

In the result, appeal in ITA No

depreciation expenses, it was submitted there was no finding that the partners had utilized the telephones or the cars of the firm for their personal use and therefore, the disallowance of these expenditures were completely unjustified. It was, therefore, prayed that while the deletions made by the ld. CIT(A) were supported in the cross objection, the assessee

ACIT,, ALLAHABAD vs. M/S KESARWANI & CO., ALLAHABAD

In the result, appeal in ITA No

depreciation expenses, it was submitted there was no finding that the partners had utilized the telephones or the cars of the firm for their personal use and therefore, the disallowance of these expenditures were completely unjustified. It was, therefore, prayed that while the deletions made by the ld. CIT(A) were supported in the cross objection, the assessee