ASHISH NIRANJAN SHAH,,PUNE vs. PR. COMMISSIONER OF INCOME-TAX -4,, PUNE
In the result, appeal of the assessee is dismissed
ITA 697/PUN/2019[2014-15]Status: DisposedITAT Pune13 Oct 2023AY 2014-15
Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.697/Pun/2019 िनधा"रण वष" / Assessment Year : 2014-15 Ashish Niranjan Shah, The Pr.Cit-4, Pune. 39, Mantri Court, Dr.Ambedkar V Road, Next To Rto, Sangam, S Pune – 411001. Pan: Aidps 7682 K Appellant/ Assessee Respondent /Revenue Assessee By Shri Kishor B Phadke – Ar Revenue By Shri Keyur Patel, Irs – Cit-Dr Date Of Hearing 28/07/2023 Date Of Pronouncement 13/10/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Pr.Commissioner Of Income Tax-4, Pune Dated26.03.2019 Under Section 263 Of The Income Tax Act, 1961. The Assessee Has Raised The Following Grounds Of Appeal : “1. Learned Pr. Cit- 4, Pune Erred In Law & On Facts In Treating The Assessment Order U/S 143(3) Being Erroneous & Thereby Prejudicial To The Revenue U/S 263 Without Appreciating That, The Learned Ao Has Allowed Appellant'S Claim Of Business Loss Amounting To Rs.10,20,14,068/- Incurred On Account Of Default In Payment By Nsel, With Due Application Of Mind & Verification. The Learned Pr. Cit Erred In Holding That, Ao Has Not Carried Out Any Enquiry With Respect To Business Loss Claimed By The Appellant & Not Applied His Ashish Niranjan Shah [A]
Section 143(3)Section 263Section 43(5)
House Property
5,55,627/-
Income / Loss from Business
-9,85,95,156/-
Income from Other Sources
3,246/-
Gross Total Income
Nil
6.5 However, the Assessing Officer has not analysed these transactions and AO has not carried on any inquiries.
6.6 The Assessee had filed an Affidavit before the AO during the Assessment Proceedings, claiming that erroneously the assessee
