GUALA CLOSURES (INDIA) PVT. LTD.,PANAJI vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, PANAJI., SELECT CITY
Appeal is dismissed in above terms
ITA 205/PAN/2019[2012-13]Status: DisposedITAT Panaji13 Oct 2023AY 2012-13
Bench: Shri Satbeer Singh Godara & Dr. Dipak Ripote
For Appellant: Shri Ketan VedFor Respondent: Shri P.S. Shivshankar, CIT-DR
Section 143(3)Section 144(3)Section 144CSection 253Section 263Section 4
long term benefits, and were required to be treated as a capital expenditure. The AO had allowed deduction of this expenditure without inquiring into the claim.
3. Accordingly, a notice dated 22.02.2019 was issued to the assessee proposing to pass an appropriate order u/s 263 of the Act, since the assessment order passed by the Assessing Officer was erroneous
