ACIT, Circle-2(1) Vs Madhu Transport Company Pvt. Ltd

Parties Involved

Facts Summary

The assessee, M/s Madhu Transport Company Pvt. Ltd., had filed its return of income for the AY 2012-13 declaring a loss of Rs.1,39,26,629/-. The case was selected for scrutiny through 'CASS'. Notice u/s 143(2) of the IT Act was issued on 12.08.2013, but the assessee did not attend the hearing. Further notices u/s 142(1) were issued on 03.07.2014, 12.12.2014, 11.02.2015, and 09.03.2015, but the assessee remained absent. Consequently, notice u/s 144 of the IT Act was issued on 19.03.2015, and the assessment order was passed on 31.03.2015. The assessee preferred an appeal against the assessment order before the Commissioner of Income Tax (Appeals)-I, Raipur, which was allowed. The revenue filed the present appeal against the order of the Commissioner of Income Tax (Appeals)-I, Raipur.…

Legal Issues

• 1. Whether the Ld. CTT(A) was justified in deleting the disallowance of Rs.16,31,54,022/- made by the AD u/s 65 of the Act?
• 2. Whether the Ld. CIT(A) was justified in deleting the addition of Rs. 16,31,54,022/-?
• 3. Whether the Ld. CIT(A) was justified in deleting the addition of Rs. 16,31,54,022/-?

Judgment Outcome

Decided in favour of Revenue.

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