SRI RAJANI GOLD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA
In the result, appeal of the assessee is allowed
ITA 162/VIZ/2023[2017-18]Status: DisposedITAT Visakhapatnam11 Oct 2024AY 2017-18
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A.No.162/Viz/2023 (निर्धारण वर्ा/ Assessment Year: 2017-18) Sri Rajani Gold V. Asst. Cit – Circle – 1(1) D.No. 11-49-336B Central Revenue Building Sivalayam Street, I Town Mg Road – 520001 Vijayawada – 520001 Vijayawada, Andhra Pradesh Andhra Pradesh [Pan: Aacfs6675E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)
Section 133ASection 143(2)Section 143(3)
150,89,00,721
1,30,404
0.01%
2017-18
79,92,05,016
43,31,082
0.54%
7. Considering the business and turnover of the assessee, Ld.AO estimated the income of the assessee at 1% of the turnover of Rs. 79,92,05,016/- amounting to Rs. 79,92,050/-.
8. The Ld.AO rejected the explanation of the assessee
