LORD VISHNU CONSTRUCTION PVT LTD,PATNA vs. PR. CIT-1, PATNA

In the result, appeal of the assessee is partly allowed

Bench: Shri Sonjoy Sarma, Hon’Blei.T.A. No. 23/Pat/2022 Assessment Year: 2017-18 Lord Vishnu Constructions Principal Commissioner Of Income Tax-1, Private Limited Vs Patna 101, Lotus Apartment New Patliputra Colony Patna - 800013 [Pan: Aabcc5141M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Nishant Maitin, C.A. Revenue By : Shri Sushil Kumar Mishra, Jcit D/R सुनवाई क" तारीख/Date Of Hearing : 07/03/2024 घोषणा क" तारीख /Date Of Pronouncement: 22/05/2024 आदेश/O R D E R Per, Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Learned Principal Commissioner Of Income Tax, Patna -1 (Hereinafter The “Ld. Pr. Cit”) Dt. 18/10/2022, Passed U/S 263 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2017-18. 2. Through Various Grounds Of Appeal, The Assessee Has Assailed The Order Of The Ld. Pr. Cit Framed U/S 263 Of The Act. Facts In Brief Are That The Assessee Is A Private Limited Company Engaged In Construction Business. The Regular Return Of Income Furnished Was Selected For Scrutiny Through Cass On Account Of Two Reasons, Namely, “Abnormal Increase In Cash Deposit During