Meter and Instruments Pvt. Ltd. vs. DCIT

Parties Involved

Facts Summary

The assessee, Meter and Instruments Pvt. Ltd., filed a return of income declaring a total loss of Rs. 5,87,61,811/-. The return was selected for scrutiny under CASS. An assessment order was passed on 29/12/2017 under section 143(3) of the Act, making an addition of Rs. 5,90,49,877/-. The assessee preferred an appeal before the CIT(A), which was dismissed on 19/01/2024. Aggrieved by this order, the assessee filed the present appeal.…

Legal Issues

• 1. Whether the Ld. CIT(A) grossly erred on facts and in law by not annulling the assessment order.
• 2. Whether the Ld. CIT(A) passed an ex-parte order without appreciating the appellant's response to the notices.
• 3. Whether the Ld. CIT(A) erred in confirming the assessed income at Rs. 2,88,51,260/-.
• 4. Whether the Ld. CIT(A) erred in considering the returned loss at Rs. 3,02,00,338/- instead of Rs. 5,87,61,811/-.
• 5. Whether the Ld. CIT(A) erred in confirming the addition of Rs. 1,722/- under section 14A of the IT Act, 1961.
• 6. Whether the Ld. CIT(A) erred in confirming the addition of Rs. 5,90,49,877/- under section 43CA of the IT Act, 1961.

Judgment Outcome

Decided in favour of Assessee.

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