MESERS P.D SEKHSARIA TRADING COMPANY ,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, BATHINDA
In the result, the appeal of the assessee is allowed and the Stay Petition of the assessee is dismissed
ITA 331/ASR/2018[2014-15]Status: DisposedITAT Amritsar18 Mar 2019AY 2014-15
Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 331/Asr./2018 : Asstt. Year : 2014-15 M/S P. D. Sekhsaria Trading Vs Dy. Commissioner Of Income Company Pvt. Ltd., 4242, Tax, Circle-I, Ground Floor, Gurudwara Singh Bathinda, Punjab Sabha Street, Bathinda, Punjab (Appellant) (Respondent) Pan No. Aabcp1720E Sa No. 03/Asr./2019 (In Ita No. 331/Asr./2018: Asstt. Year : 2014-15) M/S P. D. Sekhsaria Trading Vs Dy. Commissioner Of Income Company Pvt. Ltd., 4242, Tax, Circle-I, Ground Floor, Gurudwara Singh Bathinda, Punjab Sabha Street, Bathinda, Punjab (Appellant) (Respondent) Pan No. Aabcp1720E Assessee By : Shri. Salil Kapoor, Adv. & Shri. Sanat Kapoor, Adv. Revenue By : Shri. M. P. Singh, Cit Dr Date Of Hearing :20.02.2019 Date Of Pronouncement : 19.03.2019 Order Per N. S. Saini: This Is An Appeal Filed By The Assessee Against The Order Of Cit(A), Bathinda Dated 26.03.2018. 2. The Assessee Has Raised Following Grounds Of Appeal: “1. That On The Facts & Circumstances Of The Case The Addition/Disallowance Of Rs.4,69,47,808/- Made
For Appellant: Shri. Salil Kapoor, Adv. &For Respondent: Shri. M. P. Singh, CIT DR
Section 2Section 234ASection 43(5)Section 43(5)(e)
vi. The Assessing Officer did not apply CIT Vs NASA Finlease
Pvt. Ltd. (2013) 358 ITR 305. ITA No. 331/Asr./2018
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SA No. 03/Asr./2019
P.D. Sekhsaria Trading Company Pvt. Ltd.
vii. The notification of recognition of the exchange does not create any right or liability but it merely recognizes the eligibility.
vii. A number of judicial precedents/decisions were
