GOLDQUEST INTERNATIONAL PVT. LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

84,70,705/-. Aggrieved by the order, the assessee filed an appeal before the Commissioner of Income Tax (Appeals). In the appellate proceedings, the ld. Authorised 4. Representative raised grounds on the genuiness of expenses were the ld. Assessing Officer has overlooked the nature and commercial expediency of business which was considered in earlier assessments. The Commissioner of Income