DCIT, Circle-13(1), Kolkata vs. Century Aluminium MFG Company Ltd.
Case No: ITA No.2229/Kol/2025
Court: Income Tax Appellate Tribunal, 'A' Bench, Kolkata
Date: 12/17/2025
Parties Involved
appellantDCIT, Circle-13(1), Kolkata
respondentCentury Aluminium MFG Company Ltd.
Facts Summary
The assessee, Century Aluminium MFG Company Ltd., filed its return of income for AY 2012-13 declaring a loss of Rs. 3,67,08,876/-. The case was reopened by issuing a notice under section 148 of the Income-tax Act, 1961, based on a statement recorded under section 132(4) of the Act. During the assessment proceedings, the Assessing Officer observed a transaction with M/s Shubh Suppliers Ltd for Rs. 1,00,00,000/- and made an addition of Rs. 90,00,000/- on account of an unsecured loan since the lend…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the delay in filing the appeal by the revenue is condoned?
- 2. Whether the addition made by the Assessing Officer on account of unsecured loan is sustainable?
Precedents Relied Upon
7 precedents cited in this judgement.