Golden Goenka Credit Pvt. Ltd. vs. PCIT (Central) -2, Kolkata
Case No: ITA No.787/Kol/2025
Court: Income Tax Appellate Tribunal, 'B' Bench, Kolkata
Date: 12/5/2025
Parties Involved
appellantGolden Goenka Credit Pvt. Ltd.
respondentPCIT (Central) -2, Kolkata
Facts Summary
The assessee, Golden Goenka Credit Pvt. Ltd., filed its return of income for the assessment year 2021-22 showing a loss of Rs.10,36,29,610/- and deemed total income under section 115JB of the Income-tax Act, 1961 at Nil. A search and seizure operation was conducted on 18.12.2021, and the return of income of the assessee was selected for scrutiny. The Assessing Officer assessed the total income of the assessee at a loss of Rs.10,36,29,610/- and further assessed the income of book profit under sec…
Decision in favour of
Partly Assessee / Partly Revenue
Legal Issues
- 1. Issue related to claim of loss as ‘other deduction’
- 2. Issue related to compensation of flat
3 more legal issues analysed in this judgement.
Precedents Relied Upon
6 precedents cited in this judgement.