M/S SHARP CHUKS AND MACHINES PRIVATE LIMITED ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR
The appeal of the assessee is disposed of in the terms as above
ITA 169/ASR/2023[2017-18]Status: DisposedITAT Amritsar13 Sept 2023AY 2017-18
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
For Appellant: Sh. Rohit Kapoor, CA &For Respondent: Smt. Ratinder Kaur, Sr. DR
Section 1Section 115BSection 153(3)Section 250(6)Section 44ASection 69Section 69A
250(6) observed that a sum of Rs.
8195000/- representing income from other sources and the balance income
of Rs. 7905000/- representing business income because the funds to the
tune of Rs. 8195000/- were used for construction of factory buildings (APB,
Pg.15). The CIT(A) stated that as per AO, the building construction
expenses were never entered in the books
