M/S. SHANGRILA LATEX INDUSTRIES LIMITED,SURAT vs. ASSISTANT COMMISSIONER OF INCOME TAX - 4, SURAT
In the result, appeal filed by the assessees is allowed
ITA 38/SRT/2017[2006-07]Status: DisposedITAT Surat28 Sept 2022AY 2006-07
Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.38/Srt/2017 Assessment Year: (2006-07) (Physical Court Hearing) Shangrila Latex Industries Limited, Vs. The Acit, Circle-4, C/O. B.M. Parekh & Co., 203, 2Nd Surat. Floor, Navjivan Society, Bldg. No. 03, Lamington Road, Mumbai-400008. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaics1479E (Appellant) (Respondent) Assessee By Shri Sanjay S. Kapadia, Ca Respondent By Shri H. P. Meena, Cit(Dr) Date Of Hearing 01/07/2022 28/09/2022 Date Of Pronouncement
Section 143(3)Section 147Section 148Section 234BSection 71
147 of the Income
Tax Act, 1961 (hereinafter referred to as “the Act”), dated 31.03.2014. 2. Grounds of appeal raised by the assessee are as follows:
“1. On the facts and circumstances of the case and in law, the ld. CIT(A) has erred in confirming the addition of Rs.3,63,65,889/- on account of considering capital receipt
