ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)), BHILAI vs. SHRI SANJAY JAIN, BHILAI
In the result ground no. 06 of the revenue stands dismissed
ITA 55/RPR/2020[2014-15]Status: DisposedITAT Raipur09 Nov 2023AY 2014-15
Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No: Ita 55/Rpr/2020 (Assessment Years:2014-15) Asstt. Commissioner Of Income Tax, V Shri Sanjay Jain, Bhilai S C/O M/S Sidhharth Industries, Plot No. 38, Industrial Estate, Bhilai, C.G. Pan: Aet Pj1859D (अपीलाथ"/Appellant) . (""यथ" / Respondent) . िनधा"रती क" ओर से /Assessee By : Shri Ravi Agarwal, Ca राज"व क" ओर से /Revenue By : Smt. Ila M. Parmar, Cit-Dr सुनवाई क" तार"ख/ Date Of Hearing : 23-08-2023 घोषणा क" तार"ख/Date Of : 09-11-2023 Pronouncement
For Appellant: Shri Ravi Agarwal, CAFor Respondent: Smt. Ila M. Parmar, CIT-DR
Section 143(3)Section 250Section 40Section 68
28A). It is further held that a payment is compensatory in nature and not related to any deposit/ debt/ loan, then such a payment is out of the ambit of provisions of section 194A. It is held that as the true nature of payment by the assessee is nothing but added value of cost of purchase, therefore
