ACIT, CENTRAL CIRCLE-2, TRICHY vs. M/S MANGAL & MANGAL, TRICHY
In the result, appeal filed by the revenue is dismissed
ITA 772/CHNY/2022[2017-18]Status: DisposedITAT Chennai06 Sept 2023AY 2017-18
Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकर अपील सं./Ita No.: 772/Chny/2022 िनधा"रण वष" / Assessment Years: 2017-18 The Assistant Commissioner Of M/S. Mangal & Mangal, Income Tax, V. 25, N.S.B. Road, Teppakulam, Central Circle -2, Trichy – 620 002. No. 44, Williams Road, [Pan: Aaifm-3378-B] Cantonment, Trichy – 620 001. (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Dr. R. Mohan Reddy, Cit ""यथ" क" ओर से/Respondent By : Shri. S. Sridhar, Advocate सुनवाई की तारीख/Date Of Hearing : 08.06.2023 घोषणा की तारीख/Date Of Pronouncement : 06.09.2023
For Appellant: Dr. R. Mohan Reddy, CITFor Respondent: Shri. S. Sridhar, Advocate
Section 111ASection 115BSection 143(2)Section 68
111A of the Income-tax Act, 1961
(hereinafter referred to as “the Act”) and expenses debited into profit and loss account for earning exempt income as per schedule BP of ITR is significantly lower when compared to investment made to earn exempt income. A notice u/s.
143(2) and 142(1) of the Act, was issued from time-to-time
