S GANDHI JEWELLERY PRIVATE LIMITED,INDORE vs. PCIT-1, INDORE, INDORE
Appeal is allowed
ITA 311/IND/2024[2017-18]Status: DisposedITAT Indore21 Feb 2025AY 2017-18
Bench: Shri B.M. Biyani & Shri Dinesh Mohan Sinhaassessment Year: 2017-18 S. Gandhi Jewellery Pcit-1, Private Limited, Indore C/O Adv. Hitesh Chimnani, बनाम/ Ug-37 Trade Centre, Vs. 18, South Tukoganj, Indore (Assessee/Appellant) (Revenue/Respondent) Pan: Aamcs1613G Assessee By Shri Hitesh Chimnani, Ar Revenue By Shri Ram Kumar Yadav, Sr. Dr Date Of Hearing 10.02.2025 Date Of Pronouncement 21.02.2025
Section 143(2)Section 143(3)Section 147Section 263
section 263(1).
9. Ld. AR relied upon a decision of Co-ordinate Bench of ITAT, Indore in
Shri Chandmal Hukumchand Jain Vs. PCIT (2024) 36 ITJ Online 221
(Trib. – Indore) wherein the assessing authority made addition of Rs.
4,00,000/- being 10% of the unsecured loan of Rs. 40,00,000/- taken by
assessee and the PCIT invoked
