Regalia Laminates MCD vs Income Tax Officer

Parties Involved

Facts Summary

The assessee, Regalia Laminates MCD, was involved in the business of manufacturing decorative and industrial laminated sheets at Baddi, Himachal Pradesh. The assessee claimed exemption under section 80IC of the Income Tax Act. The assessee filed its income return on 23-09-2009, declaring a total income of Rs 561231 for the assessment year 2009-10. The case was selected for scrutiny, and a notice under section 143(2) was issued. The assessee filed numerous documents and detailed verification in response to the notice. The Assessing Officer (AO) issued a notice under section 148 of the Act on 30-03-2016, alleging that the assessee had not disclosed all material facts necessary for assessment. The AO passed an order under section 147/143(3) of the Act on 07-09-2016, reducing the deduction claimed under section 80IC of the Act. The assessee filed an appeal before the Commissioner of Income Tax (Appeals), who dismissed the appeal on 12-01-2024. The assessee further appealed to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the order passed by the Commissioner of Income Tax (Appeals) is bad both in the eye of law and on facts.
• 2. Whether the Commissioner of Income Tax (Appeals) erred in confirming the order of the Assessing Officer.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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