AVON CYCLES LIMITED,G.T ROAD, DHANDARI KALAN, LUDHIANA vs. PR. COMMISSIONER OF INCOME TAX, 1, RISHI NAGAR, LUDHIANA
In the result, the appeal of the assessee is partly allowed
ITA 705/CHANDI/2025[2021-22]Status: DisposedITAT Chandigarh15 Dec 2025AY 2021-22
Bench: Shri Laliet Kumar & Shri Krinwant Sahayआयकर अपील सं/. Ita No. 705/Chd/2025 िनधा"रणवष" / Assessment Year: 2021-22 Avon Cycles Ltd., Vs The Pcit-I, G.T.Road, Dhandari Kalan, Rishi Nagar, Ludhiana. Ludhiana. "थायीलेखासं/.Pan No: Aabca4140R अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Ashish Aggarwal, Ca Revenue By : Shri Manav Bansal, Cit, Dr Date Of Hearing : 09.12.2025 Date Of Pronouncement : 15/12/2025 Physical Hearing Order Per Laliet Kumar, Jm This Appeal Filed By The Assessee Is Directed Against The Order Of The Principal Commissioner Of Income Tax, Ludhiana-1 (Hereinafter Referred To As The "Pcit"), Dated 27.03.2025, Passed Under Section 263 Of The Income Tax Act, 1961 (The "Act") For The Assessment Year 2021-22. 2. The Assessee Has Raised The Following Substantive Grounds Of Appeal: “1. That Ld. Pcit -1, Ludhiana, Erred In Law & On Facts In Assuming The Jurisdiction To Invoke The Provisions Of Section 263 Of The Act To Set Aside The Order Passed By The Assessing Officer (National Faceless Assessment Centre, Delhi) When The Order Was Neither Erroneous Nor Prejudicial To The Interest Of Revenue. The Order Passed By Ld. Pcit(1), Ludhiana, Being Illegal Unjustified & Against The Provisions Of Section 263 May Be Annulled. 2. That Ld. Pcit (1) Erred In Law & On Facts In Setting Aside The Order Of Assessing Officer (National Faceless Assessment Centre, Delhi) By Applying The Different Approach On The Same Set Of Facts On The Issues Already Considered By The Assessing Officer.
For Appellant: Shri Ashish Aggarwal, CAFor Respondent: Shri Manav Bansal, CIT, DR
Section 143(3)Section 194JSection 263Section 69C
TDS u/s 194J on amount of Rs. 4,42,88,238/- during the year under consideration. We are enclosing herewith reconciliation of expense heads in which we
ITA 705/CHD/2025
A.Y. 2021-22
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have debited these charges. There is no difference of any amount which can be treated as income/expenditure through undisclosed sources within the provisions of section
