VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

Section 263, firstly, has to specifically pinpoint what is erroneous and prejudicial to the interest of the Revenue in the order and secondly, what was the enquiry which AO has not done. He has to specify where AO has lacked in his enquiry and it should not be a mere bald statement that AO has not done any enquiry

GOPI KRISHNA VINOD KUMAR HUF,GORAKHPUR vs. PCIT,, GORAKHPUR

In the result, appeal of the assessee is allowed

Section 263, firstly, has to specifically pinpoint what is erroneous and prejudicial to the interest of the Revenue in the order and secondly, what was the enquiry which AO has not done. He has to specify where AO has lacked in his enquiry and it should not be a mere bald statement that AO has not done any enquiry

VINOD KUMAR SARAF HUF,GORAKHPUR vs. PCIT,, GORAKHPUR

In the result, appeal of the assessee is allowed

Section 263, firstly, has to specifically pinpoint what is erroneous and prejudicial to the interest of the Revenue in the order and secondly, what was the enquiry which AO has not done. He has to specify where AO has lacked in his enquiry and it should not be a mere bald statement that AO has not done any enquiry

MOUSAMI CHOUDHURY,VARANASI vs. DY. CIT, RANGE - 2, VARANASI

In the result , the appeal filed the assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

19-20 /paper book. Our attention wasalso drawn by ld. Counsel for the assesseeto page no. 35 onwards of the paper-book filed by the assessee and it was submitted that the department has obtained copy of the account opening form submitted for opening of the bank account with ICICI Bank in the name of the assessee .It was submitted

MOUSAMI CHOUDHURY,VARANASI vs. DY. CIT, RANGE - 02,, VARANASI

In the result , the appeal filed the assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

19-20 /paper book. Our attention wasalso drawn by ld. Counsel for the assesseeto page no. 35 onwards of the paper-book filed by the assessee and it was submitted that the department has obtained copy of the account opening form submitted for opening of the bank account with ICICI Bank in the name of the assessee .It was submitted

M/S AVANTIKA INFRAVENTURE (P) LTD.,,ALLAHABAD vs. DCIT, CENTRAL CIRCLE,, VARANASI

In the result, the appeals of the assessee for the Assessment Years

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

19. In this connection we may refer to Section 36(1)(iii) of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') which states that "the amount of the interest paid in respect of capital borrowed for the purposes of the business or profession" has to be allowed as a deduction in computing the income tax under Section

M/S AVANTIKA INFRAVENTURE (P) LTD.,,ALLAHABAD vs. DCIT, CENTRAL CIRCLE,, VARANASI

In the result, the appeals of the assessee for the Assessment Years

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

19. In this connection we may refer to Section 36(1)(iii) of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') which states that "the amount of the interest paid in respect of capital borrowed for the purposes of the business or profession" has to be allowed as a deduction in computing the income tax under Section