Ozone Pharmaceuticals Limited Vs. DCIT

Parties Involved

Facts Summary

The instant appeal filed by the assessee, Ozone Pharmaceuticals Limited, is directed against the order dated 15.02.2024 passed by the Ld. CIT(A)-1, Pune, arising out of the order dated 24.12.2021 passed by the ADIT, CPC, Banglore under Section 143(3) of the Income Tax Act, 1961 for Assessment Year 2020-21. The appeal was dismissed as barred by limitation. The assessee submitted that no adequate opportunity was granted, and no show cause notice was issued. The delay of 269 days in filing the appeal before the Ld. CIT(A) was due to the assessee's bonafide belief that all claims and contentions would be examined during the assessment proceedings. The intimation under Section 143(3) was issued on 24.12.2021 making an adjustment of Rs.22,09,99,099/-. The assessment order was framed on 27.09.2022 with an assessed income of Rs.22,72,50,865/- and a demand of Rs.7,61,87,590/-. The appeal was filed on 19.10.2022, but no opportunity was afforded to place the facts before the Ld. CIT(A), and the appeal was dismissed in limine.…

Legal Issues

• 1. Whether the delay in filing the appeal before the Ld. CIT(A) should be condoned?

Judgment Outcome

Decided in favour of Assessee.

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