M/S. OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE
In the result, all the appeals filed by the revenue and the assessee are dismissed
ITA 1251/BANG/2013[2005-06]Status: DisposedITAT Bangalore14 Feb 2023AY 2005-06
Bench: Shri N.V. Vasudevan & Ms. Padmavathy S
For Appellant: Shri Balram R. Rao, AdvocateFor Respondent: Shri Gudimella VP Pavan Kumar, Jt.CIT(DR)(ITAT)
Section 132Section 153C
1,44,00,000
–
–
Unexplained gain on –
–
6,07,621
sale of mutual fund
6. Aggrieved, the assessee preferred appeals before the CIT(Appeals). The CIT(Appeals) gave full relief to the assessee in respect of the addition made towards bad debts written off. With regard to unexplained expenditure incurred towards property improvement, the CIT(A) gave partial relief