M/s. Flair Exports Pvt. Ltd Vs. DCIT

Parties Involved

Facts Summary

The appeal in ITA No.318/Del/2017 for AY 2013-14, arises out of the order of the Commissioner of Income Tax (Appeals)-24, New Delhi dated 25.11.2016 against the order of assessment passed u/s 143(3) of the Income-tax Act, 1961 dated 27.03.2015 by the Assessing Officer, ACIT, Central Circle-08, New Delhi. The revenue had not complied with the order sheet noting dated 23-04-2024. The learned DR had sought time to obtain a factual report on the additional grounds raised by the assessee on 13-11-2023 that section 143(2) notice was issued beyond the prescribed time limit. A search and seizure action under section 132 of the Act and survey operation under section 133A of the Act was conducted on SPAN India group of cases on 16-01-2013. The case of the assessee was also covered under section 133A of the Act. During the course of search and survey operation, certain documents / papers belonging to M/s Flair Exports Private Limited (assessee) were found and seized / impounded. The case of the assessee company was selected for scrutiny under section 153C of the Act. The case of the assessee was centralized vide order under section 127 of the Act dated 05-05-2014. The assessee for the assessment year 2013-14 had submitted its return of income on 28-09-2013 declaring total income of Rs 2,12,92,650/-.…

Legal Issues

• 1. Disallowance made under section 14A of the Act

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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