AMRUT SAROVAR,SURAT vs. PR. COMMISIONER INCOME TAX(CENTRAL), SURAT
In the result the grounds of appeal raised by the assessee in all three assessment years are allowed
ITA 92/SRT/2021[2014-15]Status: DisposedITAT Surat21 Oct 2021AY 2014-15
Bench: Shri Pawan Singh & Dr. Arjun Lal Saini
Section 133ASection 142(1)Section 143(3)Section 153CSection 254(1)Section 263
271D are not applicable. The amount involved was booking advances and not loan. The ld AR for the assessee further submits that for non initiation of penalty proceedings, the revision proceedings under section 263 cannot be made as held by Honourable Gujarat High Court in case of CIT v/s. Suresh
G. Shah [289 ITR 110 (Guj)] and CIT v/s. Parmanand
