KAILASH CHAND MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , JAIPUR

section 57 (iii) of the Act. We thus decline to\ninterfere with the action of the Assessing Officer and the First Appellate Authority.\"\nThe onus is on the appellant to show one-to-one matching and prove that the\ninterest expenditure for the borrowed funds have been used wholly and exclusively\nonly for the purpose of making investments which have

KAILASH CHAND MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 57 (iii) of the Act. We thus decline to interfere with the action of the Assessing Officer and the First Appellate Authority." The onus is on the appellant to show one-to-one matching and prove that the interest expenditure for the borrowed funds have been used wholly and exclusively only for the purpose of making investments which have

RAJESH PRODUCTS,TONK ,RAJASTHAN vs. ACIT, JAIPUR

section 131(1) and 133A, despite being\nspecifically asked for. It is trite law that if the authority rejects such request\nand proceeds to complete the assessment or finalise the proceeding,such\naction shall be not in accordance with the law. Reliance in this regard is\nplaced on the following decisions [E.M.C (Works) P. Ltd. v. ITO,(1963) 49\nITR