ACIT, CENTRAL CIRCLE-3, PATNA vs. BROADSON COMMODITIES PVT LTD, DHANBAD

In the result, both the appeals of Revenue are dismissed, whereas the Cross Objections filed by the assessee are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

153 A were correctly applied. (3) The premise searched was residential premise of Shri Subhash Prasad Yadav and he was one of the Director and Key person of the assessee company. (4) The observation of the CIT(A) agreeing with the assessee that their objection was not responded to by the AO invoking the citation of GKN Driveshaft case

ACIT, CENTRAL CIRCLE-3, PATNA vs. BROADSON COMMODITIES PVT LTD, DHANBAD

In the result, both the appeals of Revenue are dismissed, whereas the Cross Objections filed by the assessee are allowed