In the result, the grounds of appeal raised by the assessee is allowed
Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.104 & 106/Srt/2022 (Ay 2017-18) (Hearing In Physical Court) K.N. Diamond, 5/4299, Ground Floor, Principal Commissioner Of Soniwad, Bilimora, Dist. Income-Tax, Valsad, Room Navsari, Gujarat-396321 No. 301, 3Rd Floor, Pan No. Aadfk 3167 H Vs Income-Tax Office, Palak Arcade, Pali, Shantinagar, Labdhi Jewellerd Pvt. Ltd. Tithal Road, Valsad, Soniwad, Bilimora, Dist. Gujarat-396001 Navsari, Gujarat-396321 Pan No. Aabcl 1645 A अपीलाथ"/Appellant ""यथ" /Respondent
Housing Projects Ltd (2012) 343 ITR 329 (Del) on the addition of aforesaid submission, Ld. AR for the assessee prayed before the Bench to set aside / quash the impugned order of ld. PCIT passed under section 263 of the Act. ITA Nos.104 & 106/SRT/2022 (A.Y 17-18) K.N.Diamond & Labdhi Jewellers Pvt. Ltd 13. On the other hand