M/S. VARDHAN NUTRITIONS AND CHEMICALS PVT. LTD.,,RAIGAD vs. ASSISTANT COMMISSIONER OF INCOME-TAX,,
In the result, the appeal of assessee is allowed
ITA 662/PUN/2016[2011-12]Status: DisposedITAT Pune15 Oct 2018AY 2011-12
Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.662/Pun/2016 यििाारण वषा / Assessment Year : 2011-12 M/S. Vardhan Nutritions & Chemicals Pvt. Ltd., Plot No.535/2, Ershimgathi Road, Old Thana Naka Road, Thana Naka, अऩीऱाथी/Appellant Panvel, Dist. Raigad. …. Pan: Aabcv9194J Vs. The Asst. Commissioner Of Income-Tax, …. प्रत्यथी / Respondent Panvel
For Appellant: Shri Devendra JainFor Respondent: Shri Sanjeev Ghei
Section 143(3)Section 72Section 72(1)
25. In our opinion, the assessee cannot be denied exemption under section 54E, because, firstly, there is nothing in section 50 to suggest that the fiction created in section 50 is not only restricted to sections 48
and 49 but also applies to other provisions. On the contrary, section 50
makes it explicitly clear that the deemed fiction created
