MUKHUNDHAN GOPALAN,TRICHY vs. ACIT CIRCLE 1(1), TRICHY
In the result, the appeal filed by the assessee is allowed
ITA 504/CHNY/2023[2018-19]Status: DisposedITAT Chennai05 Jun 2024AY 2018-19
Bench: Shri Mahavir Singhand Shri Jagadishआयकर अपील सं./Ita No.: 504/Chny/2023 िनधा"रण वष"/Assessment Year: 2018-19 Shri Mukhundhan Gopalan, The Asst. Commissioner Of B-901, Trichy Rich 104, Vs. Income Tax, Salai Road, Woraiyur Bazaar, Circle 1(1), Trichy – 620 003. Trichy. Pan: Aagpm 1974P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Shri M. Murali, Cit सुनवाई क" तारीख/Date Of Hearing : 05.06.2024 घोषणा क" तारीख/Date Of Pronouncement : 05.06.2024 आदेश /O R D E R Per Mahavir Singh: This Appeal By The Assessee Is Arising Out Of The Revision Order Passed By The Principal Commissioner Of Income Tax, Madurai – 1 In Order No. Itba/Rev/F/Rev5/2022-23/1050429409 (1) Dated 06.03.2023. The Assessment Was Framed By The Additional/ Joint/Deputy/Assistant Commissioner Of Income Tax/Income-Tax Officer, National E-Assessment Centre, Delhi For The Assessment Year 2018-19 U/S.143(3) R.W.S.143(3A) & 143(3B) Of The Income Tax Act, 1961 (Hereinafter The ‘Act’) Vide Order Dated 19.10.2020. 2. The Only Issue In This Appeal Of Assessee Is Against The Revision Order Passed By The Pcit U/S.263 Of The Act Revising The Assessment Completed By Ao U/S.143(3) Of The Act Dated 19.10.2020 Without Making Enquiry In Regard To Expenses Relatable To Exempt Income U/S.14A R.W.Rule 8D(2)(Ii) Of The Income Tax Rules, 1962 (Hereinafter The ‘Rules’). For This, Assessee Has Raised Many Grounds Which Are Argumentative & Exhaustive & Hence, Need Not Be Reproduced.
For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri M. Murali, CIT
Section 111ASection 143(3)Section 14ASection 263
capital gains declared u/s 111A.
Subsequently, the PCIT issued show-cause notice dated 14.02.2023
requiring the assessee as to why the expenses relatable to exempt income be not disallowed u/s.14A of the Act, for the reasons that the assessment was completed u/s.143(3) of the Act is erroneous insofar as prejudicial to the interest of Revenue u/s.263
