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
292(Bom) (HC), has held that the appellant had received gifts from donors located abroad. The gifts were received in previous years relevant to Assessment Years 2007-2008 and 2008-2009. The AO on enquiry as to the identity and creditworthiness of the donor accepted the claim of the assessee and did not note any details with respect
