CIT v. Reddi Sahakara Bank Niyamitha

Anna Aluminium Company (P) Ltd., Ernakulam vs. Dy.Commissioner of Income T Ax Corp.Circle1(1), Kochi

In the result, the appeal filed by the assessee stands allowed

Bench: Shri Inturi Rama Rao, Am & Prakash Chand Yadav, Jm Assessment Year: 2017-18 Anna Aluminium Company (P) Ltd. .......... Appellant Kp 111 847, Kizhakkambalam, Aluva 683562 [Pan: Aafca6562R] Vs. Dcit, Corporate Circle-1(1), Kochi .......... Respondent Appellant By: Shri Harikrishnanunny, Ca Respondent By: Shri Sundarasan S., Cit-Dr Date Of Hearing: 28.05.2025 Date Of Pronouncement: 27.06.2025 O R D E R Per: Inturi Rama Rao, Am This Appeal Filed By The Assessee Is Directed Against The Order Of The National Faceless Appeal Centre, Delhi [Cit(A)] Dated 26.08.2023 For Assessment Year (Ay) 2017-18. 2. Brief Facts Of The Case Are That The Appellant Is A Company Incorporated Under The Provisions Of Companies Act. The Return Of Income For Ay 2017-18 Was Filed On 30.10.2017 Declaring Income Of Rs. 7,50,26,610/-. Against The Said Return Of Income, The Assessment Was Completed By The Dcit, Corporate Circle 1(1), Kochi (Hereinafter Called "The Ao") Vide Order Dated 23.12.2019

…does not mean that the liability had ceased to exist and the provisions of section 41(1) have no application. In this context reliance can be placed on the decision of the Hon'ble Karnataka High Court in the case of CIT v. Reddi Sahakara Bank Niyamitha [2017] 395 ITR 652. Therefore, this ground of appeal stands allowed. 6 Anna Aluminium Company (P) Ltd. 10. In the result, the appeal filed by the assessee stands allowed. Order pronounced in the open court on 27th June, 2025. (PRAKASH CHAND YADAV) ACCOUNTANT MEMBER Cochin, Dated: 27th June, 2025 n.p. Copy to: 1. The Appellant 2. The Respondent 3. The Pr. CIT con…