GUALA CLOSURES (INDIA) PVT. LTD.,PANAJI vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, PANAJI., SELECT CITY

Appeal is dismissed in above terms

Bench: Shri Satbeer Singh Godara & Dr. Dipak Ripote

capital or revenue. The 'once for all' payment test is also inconclusive. What is relevant is the purpose of the outlay and its intended object and effect, considered in a commonsense way having regard to the business realities." (p. 379) 8 ITA.No.205/PAN./2019 In the case of this assessee, it is found that the claim of expenses under

RANJANA NAIK MIRSANGKAR,BEGIM vs. INCOME TAX OFFICER, WARD - 2(1), PANAJI

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 145/Pan/2024 Assessment Year : 2015-16 Ranjana Naik Mirsangkar H.No. 614, Walkeshwar Wada, Betim, Bardez, North Goa, Goa Pan : Aldpn9981B . . . . . . . Applicant V/S Income Tax Officer, Ward-2(1), Goa. . . . . . . . Respondent Appearances Assessee By : Mr Rahul Sarda [‘Ld. Ar’] Revenue By : Mr M Satish [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 25/02/2025 घोषणा की तारीख / Date Of Pronouncement : 04/03/2025 Order Per G. D. Padmahshali; The Captioned Appeal Of The Assessee Impugns Din & Order Itba/Nfac/S/250/2024-25/1064227170(1) Dt. 19/04/2024 Passed By The National Faceless Appeal Centre, Delhi [‘Ld. Nfac’ Hereinafter] U/S 250 Of The Income-Tax Act, 1961 [‘The Act’ Hereinafter] Which In Turn Arisen Out Of Order Of Assessment Dt. 16/03/2023 Passed U/S 147 R.W.S. 144 R.W.S. 144B Of The Act By The National Faceless E-Asstt Centre [‘Ld. Ao’ Hereinafter] Anent To Assessment Year 2015-16 [‘Ay’ Hereinafter].

capital gain accrued to the assessee and framed the consequential assessment u/s 147 r.w.s. 144 r.w.s. 144B of the Act. Aggrieved by the ex-parte assessment the assessee instituted an appeal thereagainst before Ld. NFAC, which also came to be dismissed ex-parte owning to non-prosecution and in the absence of evidences. Aggrieved by impugned ex-parte order