GALLERIA CONDOMINIUM ASSOCIATION,GURGAON vs. INCOME TAX OFFICER, WARD-1(3), GURGAON, GURGAON
In the result, the appeal of the assessee is allowed for statistical purposes
ITA 1054/DEL/2021[2014-15]Status: DisposedITAT Delhi19 Sept 2022AY 2014-15
Bench: Shri Chandra Mohan Garg[Assessment Year : 2014-15] Galleria Condominium Vs Ito, Association, Galleria Building, Ward-1(3), Dlf Phase Iv, Dlf City, Gurgaon. Gurgaon, Haryana-122002. Pan-Aaaag3018P Appellant Respondent Appellant By Shri Rishabh Aggarwal, Ca & Ms. Jaishree, Ca Respondent By Shri Mithalesh Kumar Pandey, Sr. Dr Date Of Hearing 13.09.2022 Date Of Pronouncement 19.09.2022
Section 140Section 147Section 194Section 80P(2)(d)
u/s 147 of the I.T. Act, 1961 by the Ld.
A.O. were merely based on the suspicion and without any tangible material so as to* suggest any escapement of income. Hence the reassessment proceedings are liable to be quashed.
3. Whether the Ld. AO is not justified in disallowing the claim of Interest income on the basis of concept