DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE vs. M/S. SECO TOOLS INDIA PVT. LTD.,, PUNE
In the result, the Cross Objections of assessee are allowed and appeals of Revenue are dismissed
ITA 813/PUN/2017[2003-04]Status: DisposedITAT Pune01 Aug 2019AY 2003-04
Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita Nos.812 & 813/Pun/2017 यििाारण वषा / Assessment Years : 2002-03 & 2003-04
For Appellant: Shri Nikhil PathakFor Respondent: Shri Sudhendu Das
Section 143(1)Section 143(3)Section 147Section 148Section 36(1)(iii)
section 143(3) r.w.s. 147 of the Act do not stand. We allow the jurisdictional issue raised by the assessee in Cross Objections. Hence, the appeals filed by Revenue become academic in nature.
11. Before parting, we may also point out that sole reason recorded for reopening the assessment was on the premise that interest expenditure needs to be disallowed
