Apcotex Industries Limited Vs. ITO Circle-15(1)(1)
Case No: ITA No. 6022/Mum/2025
Court: Income Tax Appellate Tribunal, 'A' Bench Mumbai
Date: 1/8/2026
Parties Involved
appellantApcotex Industries Limited
respondentITO Circle-15(1)(1)
Facts Summary
The assessee, Apcotex Industries Limited, filed its original return of income for A.Y. 2013–14 declaring a total income of Rs. 11,35,45,570/-. The assessment was completed under section 143(3) determining total income of Rs. 13,40,45,570/-. Subsequently, a reassessment under section 143(3) read with section 147 was completed on 29.12.2017 determining total income of Rs. 14,03,67,404/-. Based on new information, the Assessing Officer initiated reassessment proceedings once again. The AO held that…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the notice under section 148 was barred by limitation.
- 2. Whether there was a failure on the part of the assessee to disclose fully and truly all material facts.
3 more legal issues analysed in this judgement.
Precedents Relied Upon
5 precedents cited in this judgement.