Illies Engineering India Pvt. Ltd, Mumbai vs. DCIT 2(2)(1), Mumbai
In the result, the appeal is allowed
ITA 109/MUM/2019[2012-13]Status: DisposedITAT Mumbai01 Feb 2021AY 2012-13
Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2012-13
For Appellant: Mr. Madhur Agarwal, ARFor Respondent: Mr. Michael Jerald, DR
Section 143(3)Section 271(1)(c)Section 274
…some circumstances found from which it can be gathered that the omission was attributable to an intention or desire on the part of the assessee to hide or conceal the income so as to avoid the imposition of tax thereon as held in D.M. Dahanukar v. CIT (1967) 65 ITR 280, 286 (Bom) ; M. Hussain Ali & Sons v. CIT (1965) 58 ITR 787 (Mad). 8.3 An examination of the details filed before the Ld. CIT(A) clearly indicates that since the AY 2007-08, the appellant is incurring losses. The assessed losses spread from AY 2007-08 till AY 2016-17. In the year under consideration the appellant has incurred Rs.5,68,60,644/- as…
