ITA No. 935/KOL/2024 (A.Y. 2018-2019)

Parties Involved

Facts Summary

The assessee, M/s. Inland World Logistics Pvt. Limited, filed its original return under section 139(1) for A.Y. 2018-19 on 18.03.2019. This return was revised by the assessee. Thereafter it was processed under section 143(1) on 29.11.2019. The notice under section 143(2) could be issued to the assessee on or before 30th September, 2019, but it was not issued and no scrutiny assessment was undertaken. A search under section 132 of the Income Tax Act was carried out upon the assessee on 31.03.2022. The ld. Assessing Officer has issued a notice under section 153A of the Income Tax Act on 26.10.2021. The ld. Assessing Officer has accepted the original returned income of the assessee filed under section 139. He did not make any addition because no seized material was found. He passed the assessment order on 31.03.2022. The ld. Pr. CIT assumed jurisdiction under section 263 on the ground that the assessee failed to deposit employees’ contribution amounting to Rs.4,63,685/- to the respective PF & ESI accounts within the due date provided under those Acts. Therefore, in the understanding of the ld. Pr. CIT was, that an apparent error has crept in the assessment order passed under section 153A/143(3) of the Income Tax Act. He issued a show-cause notice to the assessee.…

Legal Issues

• 1. Whether the Principal Commissioner of Income Tax (Central) was justified in taking cognizance under section 263 of the Income Tax Act?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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