Lauls Private Limited vs. Assessing Officer

Parties Involved

Facts Summary

The assessee, Lauls Private Limited, filed its return of income for the Assessment Year 2015-16 declaring a total income of Rs. 7,50,91,500/-. The assessment was completed under section 143(3) of the Income Tax Act, 1961, at an income of Rs. 7,59,30,450/-. The case was selected for scrutiny, and a notice under section 148 was issued on 30.03.2021. The Assessing Officer made an addition of Rs. 94,58,605/- for disallowance on account of depreciation as per the provisions of Section 32 of the Act. The appellant preferred an appeal against the assessment order dated 29.03.2022, which was dismissed by the Commissioner of Income Tax (Appeals). The appellant then filed the present appeal before the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the jurisdictional defects in the assessment/notice u/s 148 were ignored by the Commissioner of Income Tax (Appeals).
• 2. Whether the disallowance made by the Assessing Officer regarding the claim of depreciation on commercial vehicles was correct.
• 3. Whether the demand raised by the Assessing Officer was justified.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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