ASSISTANT COMMISSIONER OF INCOME TAX , KOLKATA vs. GINZA INDUSTRIES LIMITED, MUMBAI

ITA 901/KOL/2025Status: HeardITAT Kolkata02 June 2026AY 2017-1813 pages
AI SummaryDismissed

What were the facts?

The Revenue appealed the deletion of an addition related to the set-off of brought-forward losses of an amalgamating company. The Assessing Officer disallowed the set-off, arguing that the amalgamated company did not continue the business of the amalgamating company, thus not satisfying Section 72A(2) of the Income Tax Act.

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s order, finding that the conditions under Section 72A(2) were satisfied. The Tribunal also dismissed the Revenue's appeal regarding additions made under Section 68, agreeing with the CIT(A) that the additions were ad hoc and not supported by evidence.

What were the issues?

Whether the conditions for set-off of brought-forward losses of an amalgamating company are met, and whether additions under Section 68 for loans were justified without proper verification.

Which sections of the Income-tax Act were involved?

Section 72A,Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, KOLKATA

Before: SHRI RAJESH KUMAR, AM & SHRIPRADIP KUMAR CHOUBEY, JM

For Appellant: Shri Mohanlal Jain&, Ms. Ridhisha Jain, ARs
For Respondent: Shri Sucheta Chattopadhyay Roy &
Hearing: 20.05.2026Pronounced: 02.06.2026

Heard together (2 matters)

CO No. 81/KOL/2025
ITA No. 902/KOL/2025

Read from the judgment's own cause title. This page is filed under one of them.

Per Rajesh Kumar, AM:

These are the cross appeals preferred by the Revenue and Cross Objection by the assessee are against the orders of the Nati

The order continues below.

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