ITA No.7390/Mum/2025
Parties Involved
Facts Summary
The assessee, Sunjewels Private Limited, is a resident corporate entity engaged in the business of manufacturing gold and diamond studded jewellery for export. For the assessment year 2016-17, the assessee filed its return of income declaring total income at Rs.32,86,71,400/- and book profit of Rs.20,71,08,479/- under section 115JB of the Income Tax Act, 1961. The return was selected for scrutiny. During the assessment proceedings, the Assessing Officer (A.O.) disallowed certain purchases and legal/professional charges due to lack of verifiable evidence. The assessee contested these disallowances by furnishing additional documentary evidence before the first appellate authority, which set aside the assessment order and directed the A.O. to re-examine the issues de novo.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the first appellate authority had the jurisdiction to set aside the assessment order passed u/s.143(3) and remit the matter back to the A.O. for fresh adjudication.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
3 precedents cited in this judgement.
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