DCIT, Circle 11(1), Kolkata Vs. M/s. Placid Limited
Case No: I.T.A. No.: 2542/KOL/2024
Court: Income Tax Appellate Tribunal, Kolkata ‘D’ Bench
Date: 3/19/2025
Parties Involved
AppellantDCIT, Circle 11(1), Kolkata
RespondentM/s. Placid Limited
Facts Summary
The case involves additions under section 68 and disallowance under section 14A of the Income Tax Act, 1961, made by the Assessing Officer. The Commissioner of Income Tax (Appeals)-NFAC, Delhi quashed the assessment order dated 16.03.2013. The Revenue filed an appeal against this order, which was received 193 days after the due date. An application for condonation of delay was filed and granted. The appeal was based on the grounds that the CIT(A) erred in quashing the assessment order and in ign…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the CIT(A) erred in quashing the assessment order dated 16.03.2013.
- 2. Whether the CIT(A) erred in ignoring the existence of M/s Digvijay Investments Ltd.
Precedents Relied Upon
2 precedents cited in this judgement.