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
68,110) was added to the total income of the assessee.
On appeal, ld. CIT(A) held. that since assessee firm is not engaged in the business of money lending business. Therefore, these interest incomes earned from deployment of surplus funds of the firm in deposits with others and in Fixed Deposits will be income from other sources
