COUNTRY CLUB HOSPITALITY & HOLIDAYS LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

ITA 1480/HYD/2025Status: DisposedITAT Hyderabad27 March 2026AY 2011-1235 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the AO cannot make additions in reassessment proceedings based on additions already made in a prior assessment order, as it amounts to double addition. The disallowance of foreign exchange fluctuation loss was set aside.

What were the facts?

The assessee's appeal concerns assessment year 2011-12, involving additions made by the AO and upheld by the CIT(A). Key issues include reopening of assessment, disallowance of FCCB expenditure, and foreign exchange fluctuation loss.

What were the issues?

Whether reopening of assessment was valid and if foreign exchange fluctuation loss and FCCB expenditure were correctly disallowed.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 149,Section 143(3),Section 115JB,Section 43B,Section 36(1)(va),Section 2(24)(x)

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Income Tax Appellate Tribunal, Hyderabad “B” Bench, Hyderabad

PER MANJUNATHA G., A.M : This appeal filed by the assessee is directed against the order of the learned Commissioner of Income Tax (Appeals), National

2 Country Club Hospitality & Holidays Limited

Faceless Appeal Centre [in short “NFAC”], Delhi, d

The order continues below.

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