NIKHIL CONSTRUCTIONS, ,VISAKHAPATNAM vs. THE INCOME TAX OFFICER, WARD-3(2),, VISAKHAPATNAM
In the result, appeal filed by the assessee in ITA No
ITA 132/VIZ/2019[2010-11]Status: DisposedITAT Visakhapatnam23 Jan 2023AY 2010-11
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble
For Appellant: NoneFor Respondent: Shri Sankar Pandi, Sr. AR
Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 263Section 28Section 40
section 263 of the Act are satisfied in
the present case. Accordingly, the Ld. Pr. CIT vide para 5.3 of
his order directed the Ld. AO to disallow the entire land cost of
Rs. 30,00,000/- paid/credited to NRI and included in the amount
of Rs. 50,38,560/- debited to P & L Account this year and also
proportionate
