Deputy Commissioner of Income Tax Vs. Sponge Sales (India) Private Limited

Parties Involved

Facts Summary

The assessee, Sponge Sales (India) Private Limited, filed its return of income for the Assessment Year 2021-22 on 28-02-2022, declaring a total income of Rs. 1,98,82,860/-. The case was selected for complete scrutiny, and notices under sections 143(2) and 142(1) of the Income Tax Act, 1961, were issued. The Assessing Officer completed the assessment by making an addition of Rs. 4,01,46,761/-. Aggrieved by the order of the Assessing Officer, the assessee appealed to the National Faceless Appeal Centre (NFAC), Delhi, which partly allowed the appeal on 19-12-2023. The revenue then appealed to the Income Tax Appellate Tribunal against the NFAC's order.…

Legal Issues

• 1. Whether the appeal filed by the revenue is maintainable?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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