M/s Bengal Omnitech Nirman Ltd. vs. ACIT/ ITO, Ward 8(1), Kolkata
Case No: ITA No.1551/KOL/2024
Court: Income Tax Appellate Tribunal “B” Bench, Kolkata
Date: 12/2/2025
Parties Involved
appellantM/s Bengal Omnitech Nirman Ltd.
respondentACIT/ ITO, Ward 8(1), Kolkata
Facts Summary
During the assessment proceedings for the Assessment Year 2018-19, the Assessing Officer (AO) disallowed certain deductions claimed by M/s Bengal Omnitech Nirman Ltd. The AO disallowed a business loss of ₹1,50,00,000/- claimed by the assessee for bad debts, interest of ₹6,36,432/- and ₹3,13,530/- paid on refund of advances to customers, interest on unsecured loans amounting to ₹14,55,630/-, addition in closing stock of ₹82,62,931/-, and disallowances of service tax and professional tax totaling …
Decision in favour of
Assessee
Legal Issues
- 1. Disallowance of business loss of ₹1,50,00,000/- claimed as bad debts.
- 2. Disallowance of interest ₹6,36,432/- and ₹3,13,530/- paid on refund of advances to customers.
3 more legal issues analysed in this judgement.
Precedents Relied Upon
7 precedents cited in this judgement.