ITA No.8607/Del/2025
Case No: ITA No.8607/Del/2025
Court: Income Tax Appellate Tribunal, Delhi Bench
Date: 1/21/2026
Parties Involved
appellantOlympic Zippers Ltd.
respondentIncome Tax Officer, Ward-1(2)(1), Meerut
Facts Summary
This case pertains to the appeal filed by Olympic Zippers Ltd. for the assessment year 2015-16 against the order passed by the Commissioner of Income Tax (Appeals)/Addl/JCIT(A)- 1, Visakhapatnam. The appeal involves proceedings under section 143(3) of the Income-tax Act, 1961. The assessee raised two substantive grounds concerning the disallowance of expenditure and depreciation, which were not pressed during the hearing. The remaining issue was regarding the disallowance of Rs.5.16 lakhs under …
Decision in favour of
Assessee
Legal Issues
- 1. Disallowance of expenditure and depreciation
- 2. Disallowance of Rs.5.16 lakhs under section 40A(2)(b) for excessive director’s remuneration
Precedents Relied Upon
1 precedent cited in this judgement.