JAI PRAKASH SHAHANI,INDORE vs. INCOME TAX OFFICER - NFAC, DELHI
In the result, appeal of the assessee is allowed
ITA 524/IND/2023[2014-15]Status: DisposedITAT Indore29 Apr 2025AY 2014-15
Bench: Shri Manish Boradjai Prakashshahani, Income Tax Officer, Prop. M/S Jai Prakash Impex, Nfac, Delhi Vs. 73, New Palasia, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Apqps7948G Assessee By Ms. Ruchira Singhal, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 27.02.2025 Date Of Pronouncement 29.04.2025
Section 139(1)Section 143(3)Section 144BSection 147Section 148Section 37
207 (Delhi) stating that disallowing part of the
purchases u/s 37 is wrong when the remaining purchase
transactions from the very same party are accepted as genuine.
She submitted that the books of accounts have not been rejected
5
Jai PrakashShahani– A.Y 2014-15
and no discrepancy has been noticed in the books of accounts
during reassessment proceedings and therefore