Naples Constructions Pvt. Ltd. vs. DCIT, Mumbai
Parties Involved
Facts Summary
Naples Constructions Pvt. Ltd. is a private limited company that entered into an agreement granting development rights to another company for Project development to its holding company. The assessee filed its return of income on 30/9/2014 declaring a loss of Rs. 31,402/–. The return was revised on 28/3/2016 at a loss of Rs. 31,937/–. The case was reopened by issue of notice under Section 148 of the act on 17/3/2017. The assessee responded by filing the return of income under section 148 of the act on 28/3/2016. The total income of the assessee was assessed at Rs.287,290,925/- by making an addition to the total income of the assessee with respect to as business income by reassessment order dated 26/12/2017. The assessee preferred an appeal before the learned CIT – A who dismissed the appeal of the assessee for non-submission. The assessee filed an affidavit stating that a paper book has been submitted, along with the return submission, which were ignored by the learned CIT – A.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the learned CIT – A dismissed the appeal of the assessee for non-submission?
Judgment Outcome
Decided in favour of Assessee.
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