Subros Limited vs. Addl.CIT, Range 24

Parties Involved

Facts Summary

The assessee, Subros Limited, filed appeals against the orders of the Commissioner of Income-tax (Appeals) for the Assessment Years 2015-16, 2016-17, 2017-18, and 2020-21. The assessee claimed losses on Mark to Market (M to M) and deductions under section 35(2AB) of the Income-tax Act, 1961. The Commissioner of Income-tax (Appeals) sustained the disallowance of these claims. The assessee argued that the disallowance was erroneous and relied on various precedents. The Tribunal considered the submissions and decided in favor of the assessee on certain grounds.…

Legal Issues

• 1. Disallowance of employees' contribution towards PF and ESI.
• 2. Disallowance of Mark to Market (M to M) losses.
• 3. Additions made by the Assessing Officer regarding cash deposits during demonetization.

Judgment Outcome

Decided in favour of Partly Assessee.

Precedents Relied Upon

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