ITA 553 of 2024 Telangana State Housing Corporation Ltd

Parties Involved

Facts Summary

The appellant, a State Owned Public Sector Undertaking engaged in the business of construction of housing projects undertaken by the State Govt. of Telangana, did not file its return of income for the Assessment Year 2017-18. Based on available information, the Department initiated proceedings under section 147 of the I.T. Act, 1961, and issued notices under section 148. The assessee did not respond to these notices. Consequently, the Assessing Officer passed a best judgment assessment order under section 147 read with section 144 of the I.T. Act, 1961, determining the total income at Rs.11,60,69,480/-. The assessee appealed against this order to the CIT (A), but the appeal was dismissed without considering additional evidences filed by the assessee.…

Legal Issues

• 1. Whether the CIT (A) should have considered the additional evidences filed by the assessee before disposing of the appeal?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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