Retain Tie Up Pvt. Ltd vs. ACIT, Ward-1(3), Kolkata

Parties Involved

Facts Summary

The assessee, Retain Tie Up Pvt. Ltd, appealed against the order passed by the National Faceless Appeal Centre (CIT(A)) under section 250 of the Income Tax Act. The assessee argued that the CIT(A) had erred in not considering their written submissions and had passed a non-speaking order. The assessee also contested the addition of Rs. 1,00,00,000/- made by the Assessing Officer under section 69 of the Act, alleging that the addition was erroneous as there was no fresh investment in the year under consideration. Additionally, the assessee challenged the disallowance of Rs. 50,000/- under section 14A of the Act, stating that no exempt income was earned in the year under consideration.…

Legal Issues

• 1. The addition of Rs. 1,00,00,000/- made by the Assessing Officer under section 69 of the Act.
• 2. The disallowance of Rs. 50,000/- under section 14A of the Act.

Judgment Outcome

Decided in favour of Assessee.

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