GANGADHAR NARSINGDAS AGRAWAL (HUF),MARGAO vs. ASSTT. COMM. OF INCOME TAX CIRCLE 1, MARGAO
In the result, appeal of the assessee is allowed
ITA 140/PAN/2018[2011-12]Status: DisposedITAT Panaji30 Aug 2022AY 2011-12
Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2011-12 M/S. Gangadhar Narsingdas Assistant Commissioner Of Agrawal (Huf) Income-Tax, Circle-1, 1St Floor, Anand Bhavan, Vs. Margao-Goa. Old Station Rod, Margao- Goa 403601 (Pan: Aabhg4804R) (Appellant) (Respondent) Present For: Appellant By : Shri Nishant Thakkar, Advocate Respondent By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 16.06.2022 Date Of Pronouncement : 30.08.2022 O R D E R Per Girish Agrawal: This Appeal By The Assessee Is Directed Against The Order Of Ld. Cit(A), Panaji-1 Vide Ita No. 42/Mrg/2014-15 Dated 16.03.2018 For A.Y. 2011-12 Passed Against The Assessment Order U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) By Acit, Circle-1, Margao, Goa Dated 25.03.2014. 2. Shri Nishant Thakkar, Advocate Appeared On Behalf Of The Assessee & Shri Mayur Kamble, Sr. Dr Appeared On Behalf Of The Revenue.
For Appellant: Shri Nishant Thakkar, AdvocateFor Respondent: Shri Mayur Kamble, Sr. DR
Section 10(34)Section 143(3)Section 14ASection 3
150,495,987.34
SBI SHF Ultra Short Term
0.00
46,334,759.47
J.M. Basic Fund
10,000,000
0.00
LIC Mutual Fund – Liquid Plus Plan
52,027,936.07
0.00
TOTAL
118,327,016.41
196,830,746.81
4.1. Since assessee suo motto did not make any disallowance u/s. 14A of the Act, Ld. AO sought explanation from the assessee in this
