ITO, WARD-2, HANUMANGARH vs. SMT. LALITA SARAF , HANUMANGARH TOWN

In the result, the appeals of the Department are dismissed and the Cross objections of the assessees are allowed

Bench: Shri N.K. Sainithe Income Tax Officer, Vs Smt. Lalita Saraf, Ward-2, Hanumangarh C/O Mangi Lal Saraf, In Front Of Mandi Studio, Hanumangarh Town

150-. Thereafter the Principal CIT, Bikaner exercised his powers u/s 263 of the Act and directed the Assessing Officer to do the assessment de novo after giving due opportunity to the assessee. Subsequently, the Assessing Officer by invoking the provisions of section 145(3) of the Act, considered the purchases of Rs. 85,18,926/- from following two parties

M/S TARUN CONSTRUCTION COMPANY,WARD NO.24, NEAR BHAGAT SINGH CHOWK, SURATGARH vs. CPC, BANGALORE/ ITO, WARD-1, SRIGANGANAGAR , SRIGANGANAGAR

In the result, appeals are dismissed