DCIT, Circle-1(1), Kolkata vs. Arthur Turnkey Projects Ltd.
Case No: ITA No.1724/Kol/2025 & ITA No.1193/Kol/2025
Court: Income Tax Appellate Tribunal, 'A' Bench, Kolkata
Date: 11/12/2025
Parties Involved
appellantDCIT, Circle-1(1), Kolkata
respondentArthur Turnkey Projects Ltd.
assesseeArthur Turnkey Projects Ltd.
revenueDCIT, Circle-1(1), Kolkata
Facts Summary
The assessee, Arthur Turnkey Projects Ltd., filed its return of income for the assessment year 2017-18 declaring total income as Rs. Nil and book profit under section 115JB of Rs. 6,16,244/-. The return was selected for scrutiny, and the Assessing Officer made additions of Rs. 34,96,000/- as unexplained cash deposits during the demonetisation period, disallowance of import and export expenses of Rs. 2,18,82,543/-, and disallowance under section 68 of the Act on account of the difference in openi…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the addition of Rs. 2,18,82,543/- as disallowance of import and export expenses is justified.
- 2. Whether the addition of Rs. 2,09,38,259/- under section 68 of the Act on account of the difference in opening and closing balance of sundry creditors is justified.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
4 precedents cited in this judgement.