BHIMA JEWELLERS,SULTHAN BATHERY, WAYANAD vs. THE PR CIT, KOZHIKKODE, KOZHIKKODE
In the result, appeal of the assessee is dismissed
ITA 208/COCH/2018[2013-14]Status: DisposedITAT Cochin17 Aug 2018AY 2013-14
Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No.208/Coch/2018 Assessment Year : 2013-14 M/S. Bhima Jewellers, Vs. The Pr. Commissioner Of Income- 6/785 Ai, Tax, Kozhikode. Mysore Road, Chungum Junction, Sulthan Bathery, Wayanad-673 592. [Pan: Aakfb 9817C] (Assessee-Appellant) (Revenue-Respondent) Revenue By Shri Dhanaraj A. Sr. Dr Assessee By Shri R. Krishnan, Ca Date Of Hearing 05/07/2018 Date Of Pronouncement 20/08/2018
Section 115BSection 14Section 143(3)Section 263Section 68Section 69Section 69ASection 69BSection 69CSection 69D
depreciation against income assessed under section 68 was to be set aside.”
6.3 Further, it emerges that in the assessment proceedings, the Assessing
Officer has accepted the income returned wherein the assessee has set off business loss with unexplained credit which was treated as its income. Since the assessee had to prove the identity, capacity and creditworthiness of the creditors
