BSM Shelter Estate India Private Limited

Parties Involved

Facts Summary

The assessee-company filed a return of income for AY 2015-16 declaring a total income of Rs. Nil. The case was selected for scrutiny and the Assessing Officer (AO) passed an assessment order dated 30.12.2017 determining a total income of Rs. 1,05,00,000/- after making certain additions. The AO also imposed a penalty of Rs. 31,75,000/- under section 271(1)(c) of the Income-tax Act, 1961. The assessee filed two separate appeals to the Commissioner of Income-tax (Appeals) (CIT(A)). The CIT(A) dismissed the assessee's quantum appeal on 09.02.2023 and the penalty appeal on 24.01.2024. The assessee has now come to the Income Tax Appellate Tribunal (ITAT) assailing the orders of the CIT(A).…

Legal Issues

• 1. Whether the delay in filing the appeal should be condoned?
• 2. Whether the quantum appeal should be remanded to CIT(A) for adjudication afresh?

Judgment Outcome

Decided in favour of Assessee.

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