M/S. INDORE PARASPAR SAHAKARI BANK LTD.,INDORE vs. ACIT-I(I), INDORE

In the result this common issue is decided in favour of the assessee and the relevant grounds raised in Assessment Year 2008-09 to Assessment Year 2012-13 in I

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

reassessment proceedings u/s 143(3) r.w.s. 147 of the Act depreciation of investment of Rs.16,36,000/- was disallowed and added back to the income at Rs.45,66,540/- assessed u/s 143(3) of the Act vide order dated 28.12.2012. Income accordingly assessed at Rs.62,02,540/-. Aggrieved assessee preferred appeal before Ld. CIT(A) challenging the reopening of assessment

M/S INDORE PARASPAR SAHKARI BANK LTD. ,INDORE vs. INCOME TAX OFFICER -2 (5) , INDORE

In the result this common issue is decided in favour of the assessee and the relevant grounds raised in Assessment Year 2008-09 to Assessment Year 2012-13 in I