S.RANJAN & BROTHERS,MUZAFFARPUR vs. DCIT, CIRCLE-1, MUZAFFARPUR
In the result, the appeal of the assessee is allowed
ITA 71/PAT/2021[2017-18]Status: DisposedITAT Patna14 May 2024AY 2017-18
Bench: Rajesh Kumar, Hon’Ble & Shri Sonjoy Sarma, Hon’Bleassessment Year: 2017-18 S. Ranjan & Brothers Dcit, Circle-1, Muzaffarpur Puja Bazar, Motijheel, Muzaffarpur- Vs 842001. Pan: Aaofs 8056 Q (Appellant) (Respondent) Present For: Assessee By : None Revenue By : Shri Sushil Kumar Mishra, Jcit, Dr Date Of Hearing : 09.05.2024 Date Of Pronouncement : 14.05.2024 O R D E R Per Sonjoy Sarma, Jm: This Appeal Of The Assessee For The Assessment Year 2017-18 Is Directed Against The Order Dated 30.08.2021 Passed By The Ld. Commissioner Of Income-Tax (Appeals), Nfac, Delhi [Hereinafter Referred To As ‘The Ld. Cit(A)’].
For Appellant: NoneFor Respondent: Shri Sushil Kumar Mishra, JCIT, DR
Section 143(2)Section 40A(3)
63 taxman. 289 where Hon’ble Punjab & Haryana High Court has held that genuineness of payment is not disbelieve the disallowance u/s 40A(3) cannot be made. Moreover, the alleged payments for the materials purchased were capitalize and depreciation was claimed on capital assets purchased by the assessee. Therefore, the application of section
