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INCOME TAX APPELLATE TRIBUNAL (JAIPUR BENCH)
RATHOD KAMLESH JAYANTBHAI, AM, DR. S. SEETHALAKSHMI, JM
DIVYANIDHI BUILDCON PRIVATE LIMITED JAIPUR – Appellant
Versus
DCIT CIRCLE 6 JAIPUR JAIPUR – Respondent
| Table of Content |
|---|
| 1. identification of capital gains presented an opportunity for expense consideration related to business activities. (Para 2 , 6) |
| 2. the tribunal established the necessity of financial expenses as part of business despite a lack of conventional revenue. (Para 3 , 4 , 5) |
| 3. determination of the nature of business activities affirms the validity of claimed expenses within the operational framework. (Para 8) |
ORDER
PER: RATHOD KAMLESH JAYANTBHAI, AM
This appeal is filed by the assessee aggrieved from the order of the ld. CIT(A), National Faceless Appeal Centre, Delhi dated 08.08.2023 [Here in after referred as “ld. CIT(A)/NFAC”] for the assessment year 2017-18, which in turn arise from the order dated 17.12.2019 passed under section 143(3) of the Income Tax Act , [Here in after referred as “Act” ] by the ACIT/DCIT, Circle-6, Jaipur.
2. The assessee has marched this appeal on the following grounds:-
“1. That the Learned CIT(Appeals) erred in confirming disallowance of financial expenses of Rs. 30,34,582/- thereby sustaining addition to the extent of Rs. 30,24,582/- to returned income. The addition of Rs. 30,34,582/- sustained deserves to the deleted.”
3. The fact as culled out
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