MAYUR KHARA,YAVATMAL vs. PRINCIPAL COMMISSIONER OF INCOME TAX-2, NAGPUR
In the result, Both the appeals of above mentioned assessee’s are allowed
ITA 64/NAG/2021[2016-17]Status: DisposedITAT Nagpur28 Jun 2022AY 2016-17
Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2016-17 Shri Mayur Khara Vs. The Pcit Datta Chowk Nagpur-2 Yavatmalm 445 001 (Maharastra) Pan No.:Abwpk 8869 N Appellant Respondent Assessment Year: 2016-17 Shri Amit Khara Vs. The Pcit Datta Chowk Nagpur-2 Yavatmalm 445 001 (Maharastra) Pan No.:Abwpk 8868 P Appellant Respondent Assessee By: Shri Mahavir Atal, Ca Revenue By :Shri Piyush Kolhe (Cit-Dr) Date Of Hearing: 28/04/2022 Date Of Pronouncement: 28 /06 /2022 Order Per: Sandeep Gosain, J.M. Both These Appeals Have Been Filed By The Above Mentioned Assessees Against Two Different Orders Passed U/S 263 Of The Act By The Ld. Pr.Cit, Nagpur- 2 Dated 17-02-2017 & 16-02-20217 For The Assessment Year 2016-17 Respectively. The Grounds Of Raised By The Above Mentioned Assessees Are As Under:-
For Appellant: Shri Mahavir Atal, CAFor Respondent: Shri Piyush Kolhe (CIT-DR)
Section 143(3)Section 263
depreciation was claimed in excess has not been undertaken by the Principal CIT. It was argued that the Principal CIT had exercised the second option available to him under s.
263(1) by sending the entire matter back to the AO for a fresh assessment. That option, in the considered view of the Court, can be exercised only after
