M/s Subhrashi Enclave Pvt. Ltd. vs. ITO, Ward-10(2), Kolkata
Case No: I.T.A. No.1963/Kol/2024
Court: Income Tax Appellate Tribunal, Kolkata Bench
Date: 1/2/2025
Parties Involved
appellantM/s Subhrashi Enclave Pvt. Ltd.
respondentITO, Ward-10(2), Kolkata
Facts Summary
The assessee, M/s Subhrashi Enclave Pvt. Ltd., filed its return of income for the assessment year 2015-16 declaring a total income of Rs.2,530/-. The case was selected for limited scrutiny due to specific issues such as low income compared to high loans/advances/investments and mismatches in profit before tax. The Assessing Officer issued notices under sections 143(2) and 142(1) of the Income Tax Act. The assessee complied and provided various details. However, the Assessing Officer disallowed c…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the delay in filing the appeal is condonable.
- 2. Whether the Assessing Officer exceeded the scope of limited scrutiny.
1 more legal issue analysed in this judgement.
Precedents Relied Upon
2 precedents cited in this judgement.