Noida Towers Private Limited vs. Assessment Unit
Case No: ITA No.4199/Del/2024
Court: Income Tax Appellate Tribunal, Delhi Bench ‘I’
Date: 1/16/2026
Parties Involved
appellantNoida Towers Private Limited
respondentAssessment Unit, National Faceless Assessment Centre, Income-tax Department
Facts Summary
The assessee, Noida Towers Private Limited, is a private limited company that derived income from rent and other ancillary income through renting and operating premises in industrial parks. The case pertains to the assessment year 2020-21, where the assessee's return of income was filed declaring a total income of Rs.18,72,07,619/-. The case was selected under CASS for various reasons, including international transactions of interest paid on borrowing from associated enterprises. The Assessing O…
Decision in favour of
Assessee
Legal Issues
- 1. Impugned order is non-est and barred by limitation as per section 153 of the Act.
- 2. Erroneous addition of Rs.1,60,21,483 by the AO in respect of payment of interest on Non-Convertible Debentures (NCDs).
6 more legal issues analysed in this judgement.
Precedents Relied Upon
10 precedents cited in this judgement.