VGM EXPORT,VASCO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO
ITA 114/PAN/2023[2010-11]Status: DisposedITAT Panaji25 Feb 2025AY 2010-11
Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliita Nos. 114/Pan/2023 Assessment Year : 2010-11 Vgm Export Suvarn Bandekar Building, Swatantra Path, Vasco, Goa Pan : Aaafv6197P . . . . . . . Applicant V/S Joint Commissioner Of Income Tax, Margao Range, Margao. . . . . . . . Respondent Appearances Assessee By : Mr P B Deshpande [‘Ld. Ar’] Revenue By : Mr Ravindra Hattalli [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 20/02/2025 घोषणा की तारीख / Date Of Pronouncement : 25/02/2025
For Appellant: Mr P B Deshpande [‘Ld. AR’]For Respondent: Mr Ravindra Hattalli [‘Ld. DR’]
Section 143(1)Section 143(2)Section 143(3)Section 14ASection 250Section 40
14,11,643/- towards loss on balances maintained in EEFC account considering the same as notional and also capital in nature. The ld. AO and the Hon. CIT(A) have incorrectly applied the rationale on the Hon. Delhi HC in the matter of Philips Petroleum
International Corp. in the current case.’
4. During the course of hearing the Ld. Senior
