M/s. Elite Agro Specialties v. The Income Tax Officer

Parties Involved

Facts Summary

The assessee, M/s. Elite Agro Specialties, has filed an appeal against the order of the National Faceless Appeal Centre, Delhi [CIT(A)] dated 10.08.2023. The assessee claims that the order is contrary to facts, devoid of merits, and denies natural justice. The assessee argues that the authorities below have disallowed the claim for depreciation, disallowed the claim for interest paid on unsecured loan, and made an ad hoc disallowance of exhibition and sales promotion expenses. The assessee also claims that the order was passed exparte due to a communication gap between the assessee's auditor and the arguing counsel.…

Legal Issues

• 1. Disallowance of depreciation claim
• 2. Disallowance of interest paid on unsecured loan
• 3. Ad hoc disallowance of exhibition and sales promotion expenses

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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