VASANT CO-OP SHETKARI GINNING & PRESSING FACTORY LTD.,YAVATMAL vs. PRINCIPAL COMMISSIONER OF INCOME TAX-II, NAGPUR
In the result, appeal of the assessee is partly allowed in terms of our aforesaid observations
ITA 29/NAG/2021[2016-17]Status: DisposedITAT Nagpur09 May 2022AY 2016-17
Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 29/Nag/2021 "नधा"रण वष" / Assessment Year : 2016-17 The Vasant Co-Op. Shetkari Ginning & Pressing Factory Limited; At. Yavatmal Road, Wani, Tq. Wani, Dist. Yavatmal-440 010 Pan : Aaaat1439M .......अपीलाथ" / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax-Ii, Nagpur. ……""यथ" / Respondent Assessee By : Shri Pravin Gandhi, Ar Revenue By : Shri Vitthal Bhosale, Dr
For Appellant: Shri Pravin Gandhi, ARFor Respondent: Shri Vitthal Bhosale, DR
Section 143(3)Section 263Section 54G
section (1) of Sec.
139 in a bank account maintained under the Capital Gain Account
Scheme, 1988 (CGAS) with a specified bank, and the same shall thereafter within the specified time period be utilized for all or any of the aforementioned purposes.
13. As is discernible from Sec. 54G of the Act, the availability of deduction therein contemplated would
