NEEV INFRASTRUCTURE PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - CENTRAL CIRCLE 4(2), MUMBAI

This appeal has been filed by the assessee against the order dated 29.11.2017 passed by the Commissioner of Income Tax (Appeals)-52 (for short ‘the CIT(A), Mumbai, for the assessment year 2014-15, whereby the Ld. CIT(A) has partly allowed the appeal filed by the assessee against the assessment order passed u/s 143 (3) of the Income Tax Act, 1961 (for short the ‘Act’).

The brief facts of the case are that the assessee company, a builder developer and civil contractor, filed its return of income for the assessment year under consideration declaring total income of Rs. 6,09, 24,760/-. Since, the case was selected for scrutiny, AO issued notice u/s 143 (2) and 142 (1) of the Act. In response thereof the authorized representative of the assessee attended the proceedings and furnished the details. The AO completed the assessment u/s 143 (3) of the Act determining the total income at Rs. 6,60,56,600/- inter alia making addition of Rs. 15,93, 485/- on account of Assessment Year: 2014-15 prior period income. In the first appeal, the Ld. CIT (A) confirmed the addition made by the AO. The assessee is in appeal against the said findings of the Ld. CIT (A).

The assessee has challenged the impugned order passed by the Ld. CIT (A) on the following grounds:-