MANTHENA KANAKA DURGA PRASADA RAJU,BHIMAVARAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJAHMUNDRY
In the result, the appeal of the assessee is allowed
ITA 79/VIZ/2022[2017-18]Status: DisposedITAT Visakhapatnam15 Dec 2022AY 2017-18
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.79/Viz/2022 (िनधा"रण वष" / Assessment Year : 2017-18) Manthena Kanaka Durga Prasada Raju Vs. Asst.Commissioner Of Flat No.5, Raghavendra Towers Income Tax Srirampuram Circle-I Bhimavaram Rajamundry [Pan : Afspm2499A]
For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri M.N.Murthy Naik, CIT(DR)
Section 142(1)Section 143(2)Section 143(3)Section 263
depreciation and interest on car loan and disallowed 50% of the same,
considering the same being used towards personal use of the assessee. The
Ld.PCIT, exercising his powers under section 263 of the Act considered the
order of the Ld.AO as erroneous, in so far as prejudicial to the interest of
the revenue and observed that
