M/S. MEHENDIPUR BALAJI IMPEX PRIVATE LIMITED,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTREL CIRCLE- II, KANPUR
In the result, the appeal is allowed
ITA 23/LKW/2019[2014-15]Status: DisposedITAT Lucknow22 May 2019AY 2014-15
Bench: Shri. A. D. Jainassessment Year: 2014-15 M/S Mahendipur Balaji Impex V. Dcit Pvt. Ltd. Central Circle Ii 51/56, Sita Ram Market Kanpur Shakkarpatti, Kanpur Tan/Pan:Aaecm7300C (Appellant) (Respondent) Appellant By: Shri P. K. Kapoor, C.A. Respondent By: Smt. Alka Singh, D.R. Date Of Hearing: 23 05 2019 Date Of Pronouncement: 24 05 2019 O R D E R This Is Assessee’S Appeal Against The Order Of The Ld. Cit(A)- Iv, Kanpur, Dated 22/11/2018 For The Assessment Year 2014-15, Taking The Following Effective Grounds Of Appeal: 1. Because The Learned Cit (Appeal) Was Wrong In Law & On Facts In Dismissing The Appeal Filed By The Appellant Against Assessment Order Dated 31.12.2016 Passed By Assessing Officer Central Circle Ii Kanpur In Respect Of Addition Of Rs.22,20,000/- Being Proportionate Disallowance Out Of Interest Paid. 2. Because On The Facts & Circumstances Of The Case The Learned Cit (Appeal) Should Have Deleted The Disallowance Of Interest Of Rs.22,20,000/- As The Appellant Had Sufficient Surplus Fund By Way Of Share Capital & Reserve & Surplus & Should Have Also Allowed The Claim Of Brought Forward Of Rs.7,49,430/- Of Earlier Years.
For Appellant: Shri P. K. Kapoor, C.AFor Respondent: Smt. Alka Singh, D.R
Section 143(3)Section 153C
disallowed and added to the total income of the assessee.
5. The ld. CIT(A) has dismissed the assessee’s appeal, by holding as follows:
“Further, during the course of hearing of this appeal, it was submitted by ld. AR that after passing of order under section 143(3) of the Act, the case of appellant was against assessed under
