M/S. MAC INDUSTRIES,,VALSAD vs. THE INCOME TAX OFFICER, WARD- 6,, VAPI
In the result, the appeal filed by the assessee is allowed
ITA 1036/AHD/2016[2009-10]Status: DisposedITAT Surat19 Oct 2020AY 2009-10
Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.1036/Ahd/2016 ("नधा"रणवष" / Assessment Year: (2009-10) M/S. Mac Industries, Vs. Income Tax Officer, Plot No.1, 2407/2, Gidc, Sarigam, Ward-6, Vapi. Ta- Umbergaon, Valsad-396230. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaefm2011M (Assessee) (Respondent) Assessee By : Shri Hardik Vora - Ar Respondent By : Ms Anupama Singhla – Sr. Dr सुनवाईक"तार"ख/ Date Of Hearing : 22/09/2020 घोषणाक"तार"ख/Date Of Pronouncement : 19/10/2020 आदेश / O R D E R Per Dr. A. L. Saini:
For Appellant: Shri Hardik Vora - ARFor Respondent: Ms Anupama Singhla – Sr. DR
Section 143(3)Section 147Section 40
Dividend income Rs.377/-
(2) Interest on deposits Rs.4,51,820/-
(3) Interest on Income tax Refund Rs.28,322/-
(4) Interest on recurring deposit Rs.42,602/-
The assessing officer was of the view that above incomes were not directly related to the business income of the assessee therefore assessing officer treated the above incomes as income from other sources. Accordingly