SATYA NARAYAN DHOOT,JODHPUR vs. ACIT, CIRCLE-3, JODHPUR

In the result, the appeal of the assessee is allowed

255 has held that “if at the time of when the power under section 263 was exercised the decision of the jurisdictional High Court had not been set aside by this court or at least had not been appealed from, it would not be open to the commissioner to have proceeded on the basis that the High Court order

SHRI DEVKRIPA TEXTILE MILLS (P) LTD. ,BHILWARA vs. ACIT, BHILWARA CIRCLE, BHILWARA

In the result, the appeal of the assessee is partly allowed

Bench: Shri B. R. Baskaran & Dr. S. Seethalakshmi

4. The assessing officer noticed that the business of the assessee has been carried on up to July, 2014 only. However, the assessee has paid remuneration of Rs.5,10,000/- to the directors for the whole year. The assessee had also claimed depreciation for full year. Since the business operations have been stopped in July, 2014, the AO took

ASHOK PANWAR HUF,JODHPUR vs. ACIT, CENTRAL CIRCLE-3, JODHPUR

In the result, both the appeals of the assesses ITA No

Bench: Dr. Mitha Lal Meena, Hon'Ble & Shri Anikesh Banerjee, Hon'Ble

255/- and total amount comes to Rs.1,65,22,302/-. The Assessing Officer further added Rs.8,08,458/- related to 145(3) of the Act on account of increase of net profit from 2.76% to 8% on the bogus expenses. The aggrieved assessee filed appeal before the Ld. CIT(A). The Ld.CIT(A) upheld the impugned assessment order, after considering